PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 12 Dec 2019, 9:19 AM


Technical Buy - DRBHCOM (1619)

Author:   |    Publish date:

  • Target Price: RM2.60, RM2.70
  • Last closing price: RM2.44
  • Potential return: 6.5%, 10.6%
  • Support: RM2.40
  • Stop Loss: RM2.35

Possible for upside. Without creating new low amid market weakness, DRBHCOM is staging a potential turnaround following its prior pullback. 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 RM2.60 be broken, it may continue to lift price higher to subsequent resistance level of RM2.70.

However, failure to hold on to support level of RM2.40 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 15 Nov 2019

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Chart Stock Name Last Change Volume 
DRBHCOM 2.30 -0.01 (0.43%) 152,200 

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