Mah Sing Group’s buying interest is back after it broke out of the 3-week bullish flag pattern with a positive candle yesterday. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in early January, the uptrend may persist in the near term. A bullish bias may emerge above the RM1.70 level with stop-loss set at RM1.59, below the 25 Jun low. Towards the upside, near-term resistance level is seen at RM2.00, followed by RM2.10.

Entry : RM1.70–1.78

Target : RM2.00, RM2.10

Exit : RM1.59

Source: AmInvest Research - 2 Jul 2024