AmInvest Research Reports
Stock on Radar - Magni-Tech Industries
AmInvest
Publish date: Fri, 06 Sep 2024, 09:33 AM
AmInvest
0 9,463
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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)
We expect further upside for Magni-Tech Industries after it gapped up and pushed above the RM2.50 resistance with a long positive candle 2 sessions ago. As the stock has surged to a new multi-year high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM2.50 level with stop-loss set at RM2.28, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.80, followed by RM3.00.
Entry : RM2.50–2.56
Target : RM2.80, RM3.00
Exit : RM2.28
Source: AmInvest Research - 6 Sept 2024
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