PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 27 Feb 2020, 9:56 AM


Technical Buy - PHARMA (7081)

Author:   |    Publish date:

  • Target Price: RM2.25, RM2.32
  • Last closing price: RM2.09
  • Potential return: 7.6%, 11.0%
  • Support: RM2.02
  • Stop Loss: RM1.99

Possible for bottom fishing. PHARMA is staging a potential recovery from its consolidation phase. 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 RM2.16 be broken, it may continue to lift price higher to subsequent resistance levels of RM2.25 and RM2.32.

However, failure to hold on to support level of RM2.02 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 22 Jan 2020

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Labels: PHARMA

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Chart Stock Name Last Change Volume 
PHARMA 1.82 -0.02 (1.09%) 80,600 

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