AmInvest Research Reports
Stock on Radar - QL Resources (QL)
AmInvest
Publish date: Fri, 13 Sep 2024, 09:25 AM
AmInvest
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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)
QL Resources (QL | 7084)
Last Price: RM6.79 | Technical Call: BUY
| Support 1: RM6.70 | Resistance 1: RM7.20 |
| Support 2: RM6.40 | Resistance 2: RM7.50 |
| Shariah Compliant: Yes | Sector: Consumer |
We expect further upside for QL Resources after it broke above the RM6.70 resistance and surged to a new 52-week high a few sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional strength may be present in the coming sessions. A bullish bias may emerge above the RM6.70 level with stop-loss set at RM6.38, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM7.20, followed by RM7.50.
Entry: RM6.70-6.79
Target: RM7.20, RM7.50
Exit: RM6.38
Source: AmInvest Research - 13 Sep 2024
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