PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 22 Oct 2020, 9:57 AM


Technical Buy - IKHMAS (5268)

Author:   |    Publish date:

  • Target Price: RM0.125, RM0.150
  • Last closing price: RM0.100
  • Potential return: 25.0%, 50.0%
  • Support: RM0.085
  • Stop Loss: RM0.070

Possible for bottom fishing. IKHMAS is showing initial signs of recovery from its prior downtrend. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.125 be broken, it may continue to lift price higher to subsequent resistance level of RM0.150.

However, failure to hold on to support level of RM0.085 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 31 Oct 2019

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