AmInvest Research Reports
Stock on Radar - 99 Speed Mart Retail (99SMART)
AmInvest
Publish date: Mon, 09 Dec 2024, 09:38 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)
99 Speed Mart Retail (99SMART | 5326)
Last Price: RM2.61 | Technical Call: BUY
| Support 1: RM2.54 | Resistance 1: RM2.80 |
| Support 2: RM2.40 | Resistance 2: RM3.00 |
| Shariah Compliant: No | Sector: Consumer |
99 Speed Mart Retail posted 3 positive candles in a row and hit a new all-time high on Friday, likely indicating the return of buying interest. The stock's move above the RM2.54 resistance also coincides with its rising EMAs, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM2.54 level with stop-loss set at RM2.38, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.80, followed by RM3.00.
Entry: RM2.54-2.61
Target: RM2.80, RM3.00
Exit: RM2.38
Source: AmInvest Research - 9 Dec 2024
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