Solarvest (SLVEST | 0215)
Last Price: RM1.75 | Technical Call: BUY
Support 1: RM1.70 | Resistance 1: RM1.83 |
Support 2: RM1.65 | Resistance 2: RM2.00 |
Shariah Compliant: Yes | Sector: Energy |
Solarvest posted two positive candles in a row and its 20-day EMA has started to turn upwards yesterday, likely indicates the return of buying interest. As the stock also broke out of the 3-week bullish rectangle pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM1.70 level with stop-loss set at RM1.63, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.83, followed by RM2.00.
Entry: RM1.70-1.75
Target: RM1.83, RM2.00
Exit: RM1.63
Source: AmInvest Research - 21 Jan 2025
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