AmInvest Research Reports

Stock on Radar - Guan Chong (5102)

AmInvest
Publish date: Tue, 04 Feb 2020, 08:47 AM
AmInvest
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Guan Chong rebounded from its low and may soon test the immediate resistance price of RM3.00. It formed a bullish technical pattern known as hammer. If it moves above RM3.00, its next short-term target price will be RM3.17 followed by RM3.26. Support is anticipated at RM2.82, whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy upon breakout above RM3.00

Target: RM3.17, RM3.26 (time frame: 3-6 weeks) Exit: RM2.82

Source: AmInvest Research - 4 Feb 2020

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