Lii Hen Industries may trend higher after it surged to a new 52-week high and closed above the RM0.875 resistance a few sessions ago. Given that the stock has broken out from a 6-week bullish ascending triangle formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.875 level, with stop-loss set at RM0.85, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.95, followed by RM1.00.

Entry : RM0.875–0.90

Target : RM0.95, RM1.00

Exit : RM0.85

Source: AmInvest Research - 19 Oct 2023