AmInvest Research Reports
Stocks on Radar - DRB-Hicom (1619)
AmInvest
Publish date: Mon, 30 Dec 2019, 09:35 AM
AmInvest
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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)
DRB-Hicom has been consolidating sideways during the last few sessions, with an immediate resistance price of RM2.37. With an RSI above 50%, it may break the resistance level. If this happens, the short-term target price will be RM2.47 and RM2.56. In this case, support is anticipated at RM2.28, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM2.37
Target: RM2.47, RM2.56 (time frame: 3-6 weeks)
Exit: RM2.28
Source: AmInvest Research - 30 Dec 2019
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