Highlights

PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 25 Nov 2020, 10:24 AM

 

Technical Buy- PUNCAK (6807)

Author:   |    Publish date:


  • Target Price: RM0.270, RM0.290
  • Last closing price: RM0.240
  • Potential return: 12.5%, 20.8%
  • Support: RM0.230
  • Stop Loss: RM0.210

Possible for further upside. PUNCAK is attempting for a potential breakout from its wedge chart pattern. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.245 be genuinely broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.270 and RM0.290.

However, failure to hold on to support level of RM0.230 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 11 Jun 2020

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Labels: PUNCAK

Related Stocks

Chart Stock Name Last Change Volume 
PUNCAK 0.22 +0.005 (2.33%) 191,400 

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