AmInvest Research Reports
Stocks on Radar - Malayan Cement (3794)
AmInvest
Publish date: Thu, 02 Jan 2020, 10:32 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)
Malayan Cement has been range-bound during recent sessions. Higher trading volume was recorded in the recent session. With the momentum indicator RSI rising, there is a possibility it will break above the resistance price of RM3.00, and move towards the target prices of RM3.15 and RM3.28. The immediate support is anticipated at RM2.85, whereby traders may exit on a breach to avoid the risk of a further consolidation.
Trading Call: Buy upon breakout above RM3.00
Target: RM3.15, RM3.28 (time frame: 3-6 weeks)
Exit: RM2.85
Source: AmInvest Research - 2 Jan 2020
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