AmInvest Research Reports
Stock on Radar - Sorento Capital (SORENTO)
AmInvest
Publish date: Tue, 17 Dec 2024, 04:25 PM
AmInvest
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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)
Sorento Capital (SORENTO | 0326)
Last Price: RM0.475 | Technical Call: BUY
| Support 1: RM0.45 | Resistance 1: RM0.50 |
| Support 2: RM0.43 | Resistance 2: RM0.55 |
| Shariah Compliant: Yes | Sector: Consumer |
Sorento Capital may trend higher after it surged to a new all-time high and closed above the key RM0.45 resistance yesterday. With the bullish hammer pattern coming off the rising 20-day EMA, we expect further upside from here. A bullish bias may emerge above the RM0.45 level with stop-loss set at RM0.42, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.50, followed by RM0.55.
Entry: RM0.45-0.475
Target: RM0.50, RM0.55
Exit: RM0.42
Source: AmInvest Research - 17 Dec 2024
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