Kimlun Corporation broke out from a 2-week bullish falling wedge pattern on Friday, implying that its previous uptrend may have resumed. The stock also posted a long positive candle and hit a new 52-week high, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM1.60 level with stop-loss set at RM1.48, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.80, followed by RM1.90.

Entry : RM1.60–1.68

Target : RM1.80, RM1.90

Exit : RM1.48

Source: AmInvest Research - 29 Jul 2024