Kelington Group broke out from its 4-week bullish falling wedge pattern on Friday, implying that its previous uptrend may have resumed. The stock’s move above the key RM2.00 resistance also coincides with a new multi-year high, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM2.00 level, with a stop-loss set at RM1.78, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM2.20, followed by RM2.40.

Entry : RM2.00–2.07

Target : RM2.20, RM2.40

Exit : RM1.78

Source: AmInvest Research - 26 Dec 2023