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PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 14 Nov 2019, 9:44 AM

 

Technical Buy - EDARAN (5036)

Author:   |    Publish date:


  • Target Price: RM0.490, RM0.520
  • Last closing price: RM0.445
  • Potential return: 10.1%, 16.8%
  • Support: RM0.430
  • Stop Loss: RM0.410

Possible for upside. EDARAN is showing initial signs of potential 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 RM0.465 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.490 and RM0.520.

However, failure to hold on to support level of RM0.430 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 21 Oct 2019

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Labels: EDARAN

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Chart Stock Name Last Change Volume 
EDARAN 0.435 +0.01 (2.35%) 266,700 

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