Kim Loong Resources’ buying momentum is back after it broke out of a 2-week bullish pennant pattern yesterday. With the stock posting a long positive candle and pushing near its multi-year high, additional upside strength may be present in the near term. A bullish bias may emerge above the RM2.40 level with stop-loss set at RM2.28, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.70, followed by RM2.80.
Entry : RM2.40–2.48
Target : RM2.70, RM2.80
Exit : RM2.28
Source: AmInvest Research - 10 Sept 2024
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Created by AmInvest | Sep 10, 2024