HSS Engineers Bhd (HSSEB, 0185)

• Share price closed 1.20% higher at RM0.845 on Wednesday.

• HSS Engineers may rise higher after it broke out from its 2-week bullish rectangle pattern twosessions ago. With the stock hitting a new 52-week high yesterday coupled with the stock pushing higher from its rising 20-day EMA, this suggests that the upward momentum is picking up further.

• A bullish bias may emerge above the RM0.815 level, and the bullish momentum should lift it towardsthe subsequent resistance level of RM0.87(R1), followed by RM0.90 (R2).

• Towards the downside, stop-loss is set at RM0.76, below the 6 Oct’s low.

Source: Rakuten Research - 12 Oct 2023

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