AmInvest Research Reports
Stock on Radar - Mah Sing Group (MAHSING)
AmInvest
Publish date: Fri, 18 Oct 2024, 09:13 AM
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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)
Mah Sing Group (MAHSING | 8583)
Last Price: RM1.77 | Technical Call: BUY
| Support 1: RM1.70 | Resistance 1: RM1.95 |
| Support 2: RM1.63 | Resistance 2: RM2.00 |
| Shariah Compliant: Yes | Sector: Property |
We expect further upside for Mah Sing Group given that it took out the 11-week downtrend line with another positive candle yesterday. As its 20-day and 50-day EMAs are converging now and are likely to turn up in the near term, bullish momentum is rising. A bullish bias may emerge above the RM1.70 level with stop-loss set at RM1.61, below the 8 Oct low. Towards the upside, near-term resistance level is seen at RM1.95, followed by RM2.00.
Entry: RM1.70-1.77
Target: RM1.95, RM2.00
Exit: RM1.61
Source: AmInvest Research - 18 Oct 2024
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