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UOB Kay Hian Research Articles

Author: UOBKayHian   |   Latest post: Wed, 29 Jan 2020, 9:37 AM

 

Traders' Corner - TMC Life Sciences (TMCL MK)

Author:   |    Publish date:


  • Technical BUY with +17.0% potential return
  • Last price: RM0.765
  • Target price: RM0.865, RM0.895
  • Support: RM0.70
  • Stop-loss: RM0.695

BUY with a target price of RM0.895 and stop-loss at RM0.695. Based on the chart, TMCL formed a bullish candle and closed above the BBI line after the recent pullback movement. An uptick in the RSI and DMI suggests a rising momentum, which in our view, could push the share price towards our targets of RM0.865 and RM0.895 in the near term. Currently MACD is on the verge of making a golden cross to the positive signal.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 3 Aug 2018

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Labels: TMCLIFE

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