Kelington Group rose above its 20-day EMA and formed a 3rd consecutive white candle yesterday, which likely indicates the return of buying interest. The stock also broke out from the 2-week bullish rectangle pattern, likely indicate that the near-term bullish trend may persist. A bullish bias may emerge above the RM2.20 level, with a stop-loss set at RM2.08, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM2.40, followed by RM2.60.

Entry : RM2.20–2.27

Target : RM2.40, RM2.60

Exit : RM2.08

Source: AmInvest Research - 14 Feb 2024