Mikro MSC may rise higher after it gapped up and pushed above the RM0.28 resistance yesterday. The stock also posted 5 positive candles in a row and hit a new 52-week high, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM0.28 level with stop-loss set at RM0.25, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.32, followed by RM0.35.

Entry : RM0.28–0.295

Target : RM0.32, RM0.35

Exit : RM0.25

Source: AmInvest Research - 13 Aug 2024