AmInvest Research Reports
Stock on Radar - Evergreen Fibreboard (EVERGRN)
AmInvest
Publish date: Thu, 16 Jan 2025, 09:35 AM
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)
Evergreen Fibreboard (EVERGRN | 5101)
Last Price: RM0.29 | Technical Call: BUY
| Support 1: RM0.285 | Resistance 1: RM0.32 |
| Support 2: RM0.27 | Resistance 2: RM0.34 |
| Shariah Compliant: Yes | Sector: Industrial |
We expect further upside for Evergreen Fibreboard after it closed above the RM0.285 resistance yesterday. As the 20-day and 50-day EMAs are converging and likely to turn upward in the near term, positive momentum may be building. A bullish bias may emerge above the RM0.285 level with stop-loss set at RM0.26, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.32, followed by RM0.34.
Entry: RM0.285-0.29
Target: RM0.32, RM0.34
Exit: RM0.26
Source: AmInvest Research - 16 Jan 2025
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