AmInvest Research Reports
Stocks on Radar- AppAsia (0119)
AmInvest
Publish date: Wed, 08 Jul 2020, 08:55 AM
AmInvest
0 9,386
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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)
AppAsia jumped and tested the RM0.33 resistance level. Given the 21-day moving average’s uptrend, coupled with the bullish white candlestick pattern, these show a strong rebound and it may break out from the resistance level. If this happens, expect it to travel towards the short-term target prices of RM0.35 and RM0.37. The downside support is anticipated at RM0.295, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.33
Target: RM0.35, RM0.37 (time frame: 2-4 weeks)
Exit: RM0.295
Source: AmInvest Research - 8 Jul 2020
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