PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 24 May 2019, 11:10 AM


Technical Buy: ALCOM (2674)

Author:   |    Publish date:

  • Target Price: RM0.600, RM0.630
  • Last closing price: RM0.555
  • Potential return: 8.1%, 13.5%
  • Support: RM0.530
  • Stop Loss: RM0.515

Possible for bottom fishing. ALCOM is showing signs of potential breakout from its sideways channel. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.560 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.600 and RM0.630.

However, failure to hold on to support level of RM0.530 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 18 Apr 2019

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Labels: ALCOM

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ALCOM 0.55 +0.04 (7.84%) 100,100 

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