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PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 21 Aug 2019, 10:13 AM

 

Technical Buy - GDEX (0078)

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  • Target Price: RM0.320, RM0.345
  • Last closing price: RM0.300
  • Potential return: 6.6%, 15.0%
  • Support: RM0.295
  • Stop Loss: RM0.280

Possible for buying into weakness. GDEX retraced but was still well supported above medium term EMA despite market weakness. As recent uptrend remains intact, neutral reading as indicated by RSI and MACD currently signal reasonable entry level to buy the dip, with anticipation of improvement in both momentum and trend in near term. Should resistance level of RM0.320 be broken, it may continue to lift price higher to subsequent resistance level of RM0.345.

However, failure to hold on to support level of RM0.295 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 19 Jul 2019

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Labels: GDEX

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