AmInvest Research Reports
Stocks on Radar - Malaysia Steel Works (KL) (5098)
AmInvest
Publish date: Wed, 18 Aug 2021, 09:31 AM
AmInvest
0 9,406
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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)
Malaysia Steel Works (KL) rose and touched the RM0.525 resistance level. With its RSI indicator pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.56, followed by RM0.58. The downside support is marked at RM0.48. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.525
Target: RM0.56, RM0.58 (time frame: 2-4 weeks)
Exit: RM0.48
Source: AmInvest Research - 18 Aug 2021
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