AmInvest Research Reports

Stocks on Radar - Southern Steel (5665)

AmInvest
Publish date: Tue, 02 Apr 2019, 10:02 AM
AmInvest
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Southern Steel was testing the RM0.855 gap resistance level in its latest session. With a neutral RSI level, it may trend higher above this point with target price of RM0.91. Meanwhile, it may continue to trend sideways if it fails to breach the RM0.855 level. In this case, support is anticipated at RM0.81, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on favourable consolidation above RM0.855

Target: RM0.91 (time frame: 3-6 weeks)

Exit: RM0.81

Source: AmInvest Research - 2 Apr 2019

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