Muhibbah Engineering may trend higher after it broke above the RM0.80 resistance and posted a long white candle on Friday. As the stock also surged to a fresh multi-year high and coupled with rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.80 level, with stop-loss set at RM0.75, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.90, followed by RM0.95.

Entry : RM0.80–0.84

Target : RM0.90, RM0.95

Exit : RM0.75

Source: AmInvest Research - 8 Jan 2024