AmInvest Research Reports

Stocks on Radar - Globetronics Technology (7022)

AmInvest
Publish date: Thu, 02 Jan 2020, 10:23 AM
AmInvest
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Globetronics Technology shot up and tested the resistance price of RM2.32. With an RSI level above 60%, it may continue to climb above the resistance price and move towards the shortterm target price of RM2.38 followed by RM2.50. If it closes below RM2.32, expect a sideway movement. Support is anticipated at RM2.20, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.32
Target: RM2.38, RM2.50 (time frame: 3-6 weeks)
Exit: RM2.20

Source: AmInvest Research - 2 Jan 2020

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