AmInvest Research Reports
Stocks on Radar - Poh Huat Resources (7088)
AmInvest
Publish date: Thu, 14 May 2020, 09:21 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)
Poh Huat Resources jumped above the resistance level RM1.00. Notice that it has formed a higher low pattern with bigger trading volume, indicating a strong bullish momentum. With an RSI pointing upwards, we view that it will propel towards the short-term target prices of RM1.08 and RM1.16. In this case, the downside support is marked at RM0.94, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.00
Target: RM1.08, RM1.16 (time frame: 2-4 weeks)
Exit: RM0.94
Source: AmInvest Research - 14 May 2020
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