AmInvest Research Reports
Stocks on Radar - AppAsia (0119)
AmInvest
Publish date: Fri, 16 Oct 2020, 09:34 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 surged and tested the RM0.625 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards short-term target prices of RM0.66 and RM0.695. The downside support is projected at RM0.56. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.625
Target: RM0.66, RM0.695 (time frame: 2-4 weeks)
Exit: RM0.56
Source: AmInvest Research - 16 Oct 2020
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