PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 30 Oct 2020, 10:22 AM


Technical buy - MYNEWS (5275)

Author:   |    Publish date:

  • Target Price RM0.645, RM0.685
  • Last closing price RM0.610
  • Potential return 5.7%, 12.2%
  • Support RM0.580
  • Stop Loss RM0.560

Possible for recovery. MYNEWS is potentially staging recovery from its prior downtrend. 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 RM0.645 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.685.

However, failure to hold on to support level of RM0.580 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 18 Sept 2020

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Labels: MYNEWS

Related Stocks

Chart Stock Name Last Change Volume 
MYNEWS 0.555 -0.015 (2.63%) 795,500 

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