MSM Malaysia shows positive momentum as indicated by a long white candle following the breakout of a flag pattern. Currently, the stock is trading above the 20-day EMA, reinforcing its upward trajectory. The expanding gap between EMA lines further signals a robust bullish trend in the near term. Resistance levels may be offered at RM2.00, followed by RM2.10. Toward the downside, stop-loss is set at RM1.58, positioned below the 50-day EMA.

Entry : RM1.70-1.83

Target : RM2.00, RM2.10

Exit : RM1.58

Source: AmInvest Research - 18 Jan 2024