AmInvest Research Reports

Stocks on Radar - Boustead Holdings

Publish date: Tue, 05 Jul 2022, 09:39 AM
0 6,363
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We believe the buying interest for Boustead Holdings is back after it pushed out of the 1-month downward channel (dervied from June’s high) with a long white candle yesterday. As the stock has recovered above its 20-day and 50-day EMAs, there is likely still room to the upside from here. A bullish bias may emerge above the RM0.76 level, with a stop-loss set at RM0.70, below 1 July’s low. Towards the upside, the near-term resistance level is seen at RM0.86, followed by RM0.90.

Entry : RM0.76–0.79

Target : RM0.86, RM0.90

Exit : RM0.70

Source: AmInvest Research - 5 Jul 2022

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