AmInvest Research Reports
Stocks on Radar - DRB-Hicom (1619)
AmInvest
Publish date: Mon, 18 Oct 2021, 09:38 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)
DRB-Hicom climbed and touched the RM1.68 resistance level. With its RSI indicator moving upward, coupled with higher low candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.75, followed by RM1.79. The downside support is marked at RM1.58. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM1.68
Target: RM1.75, RM1.79 (time frame: 2-4 weeks)
Exit: RM1.58
Source: AmInvest Research - 18 Oct 2021
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