Highlights

PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 27 Nov 2020, 10:57 AM

 

Technical Buy - TEXCHEM (8702)

Author:   |    Publish date:


  • Target Price RM0.660, RM0.710
  • Last closing price RM0.600
  • Potential return 10.0%, 18.3%
  • Support RM0.555
  • Stop Loss RM0.520

Possible for further recovery. TEXCHEM is staging a potential 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 the near term. Should resistance level of RM0.660 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.710.

However, failure to hold on to support level of RM0.555 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 6 Oct 2020

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Labels: TEXCHEM

Related Stocks

Chart Stock Name Last Change Volume 
TEXCHEM 0.605 -0.005 (0.82%) 147,100 

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