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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Created by AmInvest | Nov 25, 2024