AmInvest Research Reports

Stock on Radar - Telekom Malaysia

AmInvest
Publish date: Wed, 28 Feb 2024, 10:43 AM
AmInvest
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Telekom Malaysia’s buying interest is back after it broke out of the 1-month bullish pennant pattern with a long white candle 2 sessions ago. The stock hit its new 52-week high and left an upside gap, which indicates a bullish signal. A bullish bias may emerge above the RM5.90 level with stop-loss set at RM5.73, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM6.30, followed by RM6.60

Entry : RM5.90–6.02

Target : RM6.30, RM6.60

Exit : RM5.73

Source: AmInvest Research - 28 Feb 2024

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