AmInvest Research Reports

Stock on Radar - Spritzer (SPRITZER)

AmInvest
Publish date: Wed, 20 Nov 2024, 09:26 AM
AmInvest
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Spritzer (SPRITZER | 7103)

Last Price: RM2.99 | Technical Call: BUY

Technical chart: SPRITZER

Support 1: RM2.85Resistance 1: RM3.30
Support 2: RM2.70Resistance 2: RM3.50
Shariah Compliant: YesSector: Consumer

We expect further upside for Spritzer after it pushed above the RM2.85 resistance and hit a new multi-year high yesterday. The stock also posted two positive candles in a row coupled with its rising EMAs, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM2.85 level with stop-loss set at RM2.68, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM3.30, followed by RM3.50.

Entry: RM2.85-2.99

Target: RM3.30, RM3.50

Exit: RM2.68

 

Source: AmInvest Research - 20 Nov 2024

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