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PublicInvest Research

Author: PublicInvest   |   Latest post: Mon, 25 Jan 2021, 1:29 PM

 

Technical Buy - ACOSTEC (7120)

Author:   |    Publish date:


  • Target Price: RM0.245, RM0.255
  • Last closing price: RM0.225
  • Potential return: 8.8%, 13.3%
  • Support: RM0.215
  • Stop Loss: RM0.205

Possible for bottom fishing. ACOSTEC is staging a potential recovery from its gradual downtrend. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.230 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.245 and RM0.255.

However, failure to hold on to support level of RM0.215 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 4 Dec 2020

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Labels: ACOSTEC

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Chart Stock Name Last Change Volume 
ACOSTEC 0.29 -0.015 (4.92%) 2,406,000 

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