AmInvest Research Reports
Stock on Radar - Ranhill
AmInvest
Publish date: Wed, 26 Jul 2023, 09:29 AM
AmInvest
0 9,331
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
We expect further upside for Ranhill Utilities given that it took out the 3-month downtrend line yesterday. As its 20-day and 50- day EMAs are converging now and likely to turn up soon, the bullish momentum is rising. A bullish bias may emerge above the RM0.55 level, with stop-loss set at RM0.51, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65.
Entry : RM0.55–0.565
Target : RM0.60, RM0.65
Exit : RM0.51
Source: AmInvest Research - 26 Jul 2023
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