HSS Engineers’ buying momentum is back after it broke out of the 3-week bullish pennant pattern with a long white candle yesterday. As the stock also surged to a new multi-year high together with rising EMAs, we expect further upside from here. A bullish bias may emerge above the RM0.94 level, with stop-loss set at RM0.86, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM0.94–0.975

Target : RM1.10, RM1.20

Exit : RM0.86

Source: AmInvest Research - 2 Nov 2023