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PublicInvest Research

Author: PublicInvest   |   Latest post: Tue, 2 Mar 2021, 9:39 AM

 

Technical Buy - ARBB (7181)

Author:   |    Publish date:


  • Target Price: RM0.295, RM0.315
  • Last closing price: RM0.275
  • Potential return: 7.2%, 14.5%
  • Support: RM0.265
  • Stop Loss: RM0.245

Possible for sideways breakout. ARBB is staging a potential breakout from its current 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 immediate resistance level of RM0.285 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.295 and RM0.315.

However, failure to hold on to support level of RM0.265 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 19 Jan 2021

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Labels: ARBB

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Chart Stock Name Last Change Volume 
ARBB 0.37 -0.025 (6.33%) 36,783,300 

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