Hiap Teck Venture surged to a new 52-week high 2 sessions ago, which likely indicates the return of buying interest. The stock’s move above the RM0.465 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM0.465 level with stop-loss set at RM0.43, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.53, followed by RM0.55.

Entry : RM0.465–0.485

Target : RM0.53, RM0.55

Exit : RM0.43

Source: AmInvest Research - 5 Jul 2024