PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 15 Feb 2019, 10:08 AM


Technical Sell - TEOSENG (7252)

Author:   |    Publish date:

  • Target Price RM0.930
  • Last closing price RM1.02
  • Potential downside -8.8%

Upside may be capped. TEOSENG’s share price is forming a rounding top, signifying possible halt in prior surging rally. Weakening RSI and fast-paced MACD indicators currently signal an exit to sell into strength, anticipating performance in momentum and trend to remain weak in near term. Should support level of RM0.980 be broken, it may continue to drive price lower to subsequent support level of RM0.930. Note that the potential halt in uptrend presents an opportunity for profit taking instead of intraday short selling.

Source: PublicInvest Research - 8 Feb 2019

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Chart Stock Name Last Change Volume 
TEOSENG 1.21 +0.05 (4.31%) 1,134,700 

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