AmInvest Research Reports
Stocks on Radar - BIMB Holdings (5258)
AmInvest
Publish date: Tue, 17 Mar 2020, 09:06 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)
BIMB Holdings dropped lower in its latest session with an immediate resistance level of RM3.18. Since the RSI is in the oversold region, coupled with higher trading volume, we foresee that there could be a technical rebound if it breaks above the resistance level. If this happens, the short-term target prices will be RM3.40 and RM3.55. In this case, the downside support is anticipated at RM3.00, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM3.18
Target: RM3.40, RM3.55 (time frame: 3-6 weeks)
Exit: RM3.00
Source: AmInvest Research - 17 Mar 2020
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