SAM Engineering & Equipment (M) formed a long white candle yesterday, indicating that the buying momentum could be strong. This candle has sent the stock to its highest close in more than two months, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR7.80 level, with an exit set below the MYR7.38 threshold. Towards the upside, the immediate resistance is at MYR8.40. This is followed by the MYR9 level.

Source: RHB Securities Research - 26 Feb 2019