AmInvest Research Reports
Stocks on Radar - DRB-Hicom (1619)
AmInvest
Publish date: Wed, 06 May 2020, 09:04 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)
DRB-Hicom may soon moves higher to test the RM1.48 resistance level. Notice that it printed a bullish white candle with high trading volume during latest session, indicating bullish momentum kicked in after consolidation phase. If it trades above the resistance level, the momentum will propel towards short-term target prices of RM1.55 and RM1.60. The downside support is anticipated at RM1.43, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.48
Target: RM1.55, RM1.60 (time frame: 2-4 weeks)
Exit: RM1.43
Source: AmInvest Research - 6 May 2020
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