Malakoff Corporation (MALAKOF | 5264)
Last Price: RM0.91 | Technical Call: BUY
Support 1: RM0.88 | Resistance 1: RM1.00 |
Support 2: RM0.83 | Resistance 2: RM1.05 |
Shariah Compliant: Yes | Sector: 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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