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PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 27 Nov 2020, 11:04 AM

 

Technical Buy: XINHWA (5267)

Author:   |    Publish date:


  • Target Price: RM0.335, RM0.350
  • Last closing price: RM0.315
  • Potential return: 6.3%, 11.1%
  • Support: RM0.305
  • Stop Loss: RM0.295

Possible for sideways breakout. XINHWA is staging a potential breakout of its sideways channel. 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 RM0.335 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.350.

However, failure to hold on to support level of RM0.305 may indicate weakness in the share price and hence, a cut-loss signal

Source: PublicInvest Research - 30 Oct 2020

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Labels: XINHWA

Related Stocks

Chart Stock Name Last Change Volume 
XINHWA 0.39 +0.01 (2.63%) 1,312,100 

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