AmInvest Research Reports
Stock on Radar - Deleum (DELEUM)
AmInvest
Publish date: Mon, 07 Oct 2024, 10:11 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)
Deleum (DELEUM | 5132)
Last Price: RM1.65 | Technical Call: BUY
| Support 1: RM1.60 | Resistance 1: RM1.80 |
| Support 2: RM1.45 | Resistance 2: RM1.90 |
| Shariah Compliant: Yes | Sector: Energy |
We expect further upside for Deleum after it pushed above the RM1.60 resistance and hit a new 52-week high on Friday. Given that the stock has broken out from the 2-week bullish flag pattern and supported by its rising EMAs, the near term bullish trend may still have legs. A bullish bias may emerge above the RM1.60 level with stop-loss set at RM1.43, below the 20-day EMA.
Towards the upside, near-term resistance level is seen at RM1.80, followed by RM1.90.
Entry: RM1.60-1.65
Target: RM1.80, RM1.90
Exit: RM1.43
Source: AmInvest Research - 7 Oct 2024
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