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PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 22 Jan 2021, 10:40 AM

 

Technical Buy - TEXCYCL (0089)

Author:   |    Publish date:


  • Target Price: RM0.430, RM0.450
  • Last closing price: RM0.400
  • Potential return: 7.5%, 12.5%
  • Support: RM0.395
  • Stop Loss: RM0.385

Possible for sideways breakout. TEXCYCL is well supported after attempting to stage a potential breakout from 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 RM0.430 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 RM0.395 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 26 Nov 2020

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Labels: TEXCYCL

Related Stocks

Chart Stock Name Last Change Volume 
TEXCYCL 0.43 +0.005 (1.18%) 481,000 

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