AmInvest Research Reports
Stocks on Radar - Poh Huat Resources Holdings (7088)
AmInvest
Publish date: Tue, 08 Sep 2020, 11:06 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)
Poh Huat Resources Holdings jumped above the RM1.44 resistance level. With the RSI indicator above the 50% threshold, coupled with higher trading volume, we see that the momentum will continue to travel towards the shortterm target prices of RM1.54 and RM1.60. If it trades below the resistance level, expect a sideway consolidation. The downside support is anticipated at RM1.33, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.44
Target: RM1.54, RM1.60 (time frame: 2-4 weeks)
Exit: RM1.33
Source: AmInvest Research - 8 Sept 2020
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