Synergy House may trend higher, says Rakuten Trade
KUALA LUMPUR (April 25): Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.
In a technical view note on Thursday, the research house said that as the stock formed a white marubozu candlestick on Wednesday coupled with the 20-day exponential moving averages (EMAs) pointing upward, the uptrend may continue in the near term.
“We expect the rising momentum to steer the stock higher and test the next level of resistance of RM1.38 (R1), followed by RM1.50 (R2).
“Fundamentally, we like Synergy for its B2C (business-to-consumer) focus, aiming for a 70% revenue share by FY2025, which promises higher margins,” it said.
Additionally, the research house said Synergy stands out for prioritising design and online sales, supported by artificial intelligence (AI)-driven market insights.
“Their expansion plans, which involve broadening product offerings and venturing into new markets like France, further solidify their position for growth,” it said
Chart | Stock Name | Last | Change | Volume |
---|
Created by ChloeTai | Apr 29, 2024
RHB Research - Going All Out; Keep BUY. New Target Price RM1.61.
Created by ChloeTai | Apr 24, 2024
Estimated Q1 FY2024 will increase by 3 folds YoY.
Created by ChloeTai | Apr 21, 2024
Synergy delivering remarkable QoQ growth since their IPO. The company registered PAT of RM2.62 million, RM6.19 million, RM8.07 million and RM10.27 million. Immediate TP is RM1.48.
Created by ChloeTai | Dec 29, 2023
Kenanga Research give KGB an OUTPERFORM status with a target price of RM3.28 due to its record profit and high demand for ultra-high purity gases .
Created by ChloeTai | May 03, 2018