OCK Group may trend higher after it surged to a new multi-year high and closed above the RM0.58 resistance yesterday. The stock also posted 2 white candles in a row and broke out of the 1-month bullish pennant pattern, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM0.58 level with stop-loss set at RM0.52, below the 50- day EMA. Towards the upside, near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.58–0.59

Target : RM0.65, RM0.70

Exit : RM0.52

Source: AmInvest Research - 21 Mar 2024