AmInvest Research Reports
Stocks on Radar - Petronas Chemicals Group (5183)
AmInvest
Publish date: Mon, 24 Jun 2019, 09:02 AM
AmInvest
0 9,057
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Petronas Chemicals Group has rebounded from the oversold level. With an RSI above 50%, it may break the resistance level of RM8.60 and move towards a target price of RM9.14, followed by RM9.40. Meanwhile, it may lose its bullish momentum if it fails to break the resistance level in the near term. Support is anticipated at RM8.23, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM8.60
Target: RM9.14, RM9.40 (time frame: 3-6 weeks)
Exit: RM8.23
Source: AmInvest Research - 24 Jun 2019
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