AmInvest Research Reports

Stocks on Radar - Malaysia Steel Works (KL) (5098)

AmInvest
Publish date: Wed, 18 Aug 2021, 09:31 AM
AmInvest
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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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