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PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 11 Jun 2021, 10:56 AM

 

Technical Buy - MALTON (6181)

Author:   |    Publish date:


  • Target Price: RM0.430, RM0.450
  • Last closing price: RM0.405
  • Potential return: 6.1%, 11.1%
  • Support: RM0.400
  • Stop Loss: RM0.380

Possible for sideways breakout. MALTON is staging another potential breakout of its sideways channel. Slightly 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 RM0.430 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.450.

However, failure to hold on to support level of RM0.400 may indicate weakness in the share price and hence, a cut-loss signal.

 

Source: PublicInvest Research - 8 Sept 2020

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Labels: MALTON

Related Stocks

Chart Stock Name Last Change Volume 
MALTON 0.485 -0.01 (2.02%) 243,200 

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