AmInvest Research Reports
Stocks on Radar - Southern Steel (5665)
AmInvest
Publish date: Thu, 02 Jan 2020, 10:33 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)
Southern Steel may soon test the RM0.815 resistance level. With a rising RSI, a bullish bias may be present above this mark with the short-term target prices of RM0.855 and RM0.90. Meanwhile, it may continue moving sideways if it fails to cross the RM0.815 mark in the near term. In this case, the downside support is anticipated at RM0.75, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.815
Target: RM0.855, RM0.90 (time frame: 3-6 weeks)
Exit: RM0.75
Source: AmInvest Research - 2 Jan 2020
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