Highlights

PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 3 Apr 2020, 11:22 AM

 

Technical Buy: MELEWAR (3778)

Author:   |    Publish date:


  • Target Price: RM0.330, RM0.355
  • Last closing price: RM0.300
  • Potential return: 10.0%, 18.3%
  • Support: RM0.270
  • Stop Loss: RM0.240

Possible for further upside. MELEWAR rebounded off its support level. Improved 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 RM0.320 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.330 and RM0.355.

However, failure to hold on to support level of RM0.270 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 14 Feb 2020

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Labels: MELEWAR

Related Stocks

Chart Stock Name Last Change Volume 
MELEWAR 0.165 -0.01 (5.71%) 2,891,400 

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