AmInvest Research Reports
Stocks on Radar - Guan Chong (5102)
AmInvest
Publish date: Tue, 28 Jul 2020, 09:33 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)
Guan Chong surged and tested the RM3.10 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with higher low candlestick patterns, we believe that the bullish momentum may continue to climb towards the short-term target prices of RM3.21 and RM3.30. The downside support is anticipated at RM2.88, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM3.10
Target: RM3.21, RM3.30 (time frame: 2-4 weeks)
Exit: RM2.88
Source: AmInvest Research - 28 Jul 2020
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