Hiap Teck Venture may trend higher after it posted a long white candle and hit a new 52-week high yesterday. With the 20-day EMA remaining above 50-day EMA since a bullish crossover in late July, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.47 level, with stop-loss set at RM0.43, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.54, followed by RM0.56.

Entry : RM0.47–0.485

Target : RM0.54, RM0.56

Exit : RM0.43

Source: AmInvest Research - 24 Nov 2023