AmInvest Research Reports

Stocks on Radar - Samchem Holdings (5147)

AmInvest
Publish date: Fri, 03 Jan 2020, 09:45 AM
AmInvest
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Samchem Holdings printed a long white candle to test the RM0.71 resistance in its latest session. With the momentum indicator RSI above 50%, there is a possibility it will break above the resistance price and move towards the target prices of RM0.75 and RM0.80. The immediate support is anticipated at RM0.66, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM0.71
Target: RM0.75, RM0.80 (time frame: 3-6 weeks)
Exit: RM0.66

Source: AmInvest Research - 3 Jan 2020

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