AmInvest Research Reports
Stocks on Radar-Malayan Cement
AmInvest
Publish date: Wed, 20 May 2020, 08:49 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)
Malayan Cement leapt above the RM2.65 resistance level. With the momentum indicator RSI pointing upwards, we foresee that it could continue to travel towards the shortterm target prices of RM2.95 and RM3.10. If it dips below RM2.65, it will move sideways and consolidate. In this case, the downside support is marked at RM2.50, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM2.65
Target: RM2.95, RM3.10 (time frame: 2-4 weeks)
Exit: RM2.50
Source: AmInvest Research - 20 May 2020
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