AmInvest Research Reports

Stock on Radar - QL Resources (QL)

AmInvest
Publish date: Fri, 13 Sep 2024, 09:25 AM
AmInvest
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QL Resources (QL | 7084)

Last Price: RM6.79 | Technical Call: BUY

Technical chart: QL

Support 1: RM6.70Resistance 1: RM7.20
Support 2: RM6.40Resistance 2: RM7.50
Shariah Compliant: YesSector: 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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