PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 18 Jul 2019, 9:35 AM


Technical Buy: SSTEEL (5665)

Author:   |    Publish date:

  • Target Price: RM1.00, RM1.05
  • Last closing price: RM0.950
  • Potential return: 5.2%, 10.5%
  • Support: RM0.900
  • Stop Loss: RM0.875

Possible for upside. SSTEEL is showing initial signs of recovery from its consolidation phase. 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 RM1.00 be broken, it may continue to lift price higher to subsequent resistance level of RM1.05.

However, failure to hold on to support level of RM0.900 may indicate weakness in the share price and hence, a cut-loss signal

Source: PublicInvest Research - 14 Jun 2019

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Labels: SSTEEL

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SSTEEL 1.07 +0.02 (1.90%) 498,700 

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