AmInvest Research Reports

Stock on Radar - ITMAX System (ITMAX)

AmInvest
Publish date: Fri, 22 Nov 2024, 09:42 AM
AmInvest
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ITMAX System (ITMAX | 5309)

Last Price: RM3.65 | Technical Call: BUY

Technical chart: ITMAX

Support 1: RM3.60Resistance 1: RM4.00
Support 2: RM3.36Resistance 2: RM4.20
Shariah Compliant: YesSector: Technology

ITMAX System broke out from its 3-week rectangle pattern with another positive candle yesterday, implying that a bullish reversal sign may have occurred. In view that the 20-day and 50-day EMAs are starting to turn upwards again, additional upward momentum may be present in the near term. A bullish bias may emerge above the RM3.60 level with stop-loss set at RM3.34, below the 13 Nov low. Towards the upside, near-term resistance level is seen at RM4.00, followed by RM4.20.

Entry: RM3.60-3.65

Target: RM4.00, RM4.20

Exit: RM3.34

 

Source: AmInvest Research - 22 Nov 2024

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