AmInvest Research Reports
Stocks on Radar- Matrix Concepts Holdings (5236)
AmInvest
Publish date: Thu, 23 Jul 2020, 08:46 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)
Matrix Concepts Holdings is consolidating to test the RM1.87 resistance level. With the RSI indicator pointing upwards, coupled with higher low candlestick patterns, we believe that there could be a technical breakout above the resistance level. If this happens, it will travel towards the short-term target price of RM1.95 followed by RM2.03. In this case, the downside support is marked at RM1.79, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.87
Target: RM1.95, RM2.03 (time frame: 2-4 weeks)
Exit: RM1.79
Source: AmInvest Research - 23 Jul 2020
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