AmInvest Research Reports
Stock on Radar - Muhibbah Engineering (M)
AmInvest
Publish date: Mon, 14 Aug 2023, 09:34 AM
AmInvest
0 9,382
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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)
Muhibbah Engineering (M) may trend higher after breaking above the RM0.70 resistance and hit its 4-month high on Friday. Coupled with the positive cross of its 20-day EMA above the 50-day EMA a few candles back, this bullish crossover has enhanced upward momentum. A bullish bias may emerge above the RM0.70 level, with stop-loss set at RM0.65, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.85.
Entry : RM0.70–0.725
Target : RM0.80, RM0.85
Exit : RM0.65
Source: AmInvest Research - 14 Aug 2023
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