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Trading Idea – Systech Berhad (0050)

Alphabull
Publish date: Wed, 25 Sep 2024, 08:35 PM

Systech has recently tested its key support level of 30.5 sen, with sustained buying interest indicating potential upward momentum. Following this consolidation phase, the stock is likely to stage a trend reversal, eyeing a breakout towards its immediate resistaance level of 32.0 sen, with a further target of 34.5 sen in sight. Adding to the company's strategic positioning is the recent appointment of Tan Wei Herng as a new director. Mr. Tan brings over a decade of experience in various engineering fields, with notable expertise in data centre cooling systems. His leadership in TS Chuan Engineering & Drilling and involvement in sustainability initiatives will likely contribute to Systech’s growth, particularly in sectors related to data centres and environmental technologies.

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UnicornP

TCS better.

2 months ago

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