AmInvest Research Reports

Stock on Radar - P.I.E. Industrial (PIE)

AmInvest
Publish date: Thu, 14 Nov 2024, 09:51 AM
AmInvest
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P.I.E. Industrial (PIE | 7095)

Last Price: RM5.80 | Technical Call: BUY

Technical chart: PIE

Support 1: RM5.50Resistance 1: RM6.60
Support 2: RM5.00Resistance 2: RM7.30
Shariah Compliant: YesSector: Industrial

P.I.E. INDUSTRIAL posted two consecutive positive long candles and closed above the RM5.50 resistance two sessions ago, suggesting a return of buying interest. With its 20-day and 50-day EMAs now converging and likely to turn upward in the near term, additional strength may be anticipated in the coming sessions. A bullish bias may emerge above the RM5.50 level with stop-loss set at RM4.98, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM6.60, followed by RM7.30.

Entry: RM5.50-5.80

Target: RM6.60, RM7.30

Exit: RM4.98

 

Source: AmInvest Research - 14 Nov 2024

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