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PublicInvest Research

Author: PublicInvest   |   Latest post: Mon, 13 Jul 2020, 10:10 AM

 

Technical Buy- RGB (0037)

Author:   |    Publish date:


  • Target Price: RM0.165, RM0.175
  • Last closing price: RM0.145
  • Potential return: 13.7%, 20.6%
  • Support: RM0.140
  • Stop Loss: RM0.125

Possible for further recovery. RGB is staging a potential breakout from its current consolidation phase. Slightly improved RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.155 be genuinely broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.165 and RM0.175.

However, failure to hold on to support level of RM0.140 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 3 Jun 2020

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Labels: RGB

Related Stocks

Chart Stock Name Last Change Volume 
RGB 0.145 +0.005 (3.57%) 7,028,900 

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