AmInvest Research Reports

Stock on Radar - Malakoff Corporation (MALAKOF)

AmInvest
Publish date: Thu, 09 Jan 2025, 11:37 AM
AmInvest
0 9,557
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Malakoff Corporation (MALAKOF | 5264)

Last Price: RM0.91 | Technical Call: BUY

Technical chart: MALAKOF

Support 1: RM0.88Resistance 1: RM1.00
Support 2: RM0.83Resistance 2: RM1.05
Shariah Compliant: YesSector: Utilities

We expect further upside for Malakoff Corporation after it pushed above the RM0.88 resistance with a long positive candle yesterday. As the 20-day and 50-day EMAs are converging now and likely to confirm its bullish crossover soon, additional upside strength may be present in the coming sessions. A bullish bias may emerge above the RM0.88 level with stop-loss set at RM0.82, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.00, followed by RM1.05.

Entry: RM0.88-0.91

Target: RM1.00, RM1.05

Exit: RM0.82

 

Source: AmInvest Research - 9 Jan 2025

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