Muhibbah Engineering broke out from a 3-week bullish flag pattern 2 sessions ago, implying that its previous uptrend may have resumed. On a new 52-week high coupled with rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.79 level, with stop-loss set at RM0.72, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.90, followed by RM1.00.

Entry : RM0.79–0.805

Target : RM0.90, RM1.00

Exit : RM0.72

Source: AmInvest Research - 14 Dec 2023