PublicInvest Research

Author: PublicInvest   |   Latest post: Tue, 12 Nov 2019, 9:48 AM


Technical Buy - HOMERIZ-WB (5160WB)

Author:   |    Publish date:

  • Target Price: RM0.260, RM0.280
  • Last closing price: RM0.225
  • Potential return: 15.5%, 24.4%
  • Support: RM0.200
  • Stop Loss: RM0.190

Possible for bottom fishing. Remaining resilient above its support level, HOMERIZ-WB is breaking out of its sideways trending 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 RM0.240 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.260 and RM0.280. Note that the maturity date of HOMERIZ-WB is on 3 July 2022.

However, failure to hold on to support level of RM0.200 may indicate weakness in the share price and hence, a cut-loss signal.


Source: PublicInvest Research - 21 Oct 2019

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