AmInvest Research Reports

Stocks on Radar - Texchem Resources

AmInvest
Publish date: Thu, 11 Aug 2022, 09:37 AM
AmInvest
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We think the buying interest in Texchem Resources may have returned after it surged above the RM3.00 psyhcological mark and hit its 7-week high yesterday. As the 20-day and 50-day EMAs are converging and likely to confirm its bullish crossover soon, the bullish momentum may be present now. A bullish bias may emerge above the RM3.00 level, with a stop-loss set at RM2.78, below 3 Aug’s low. Towards the upside, the near-term resistance level is seen at RM3.50, followed by RM4.00.

Entry : RM3.00–3.19

Target : RM3.50, RM4.00

Exit : RM2.78

 

Source: AmInvest Research - 11 Aug 2022

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