AmInvest Research Reports
Stock on Radar - EG Industries (EG)
AmInvest
Publish date: Wed, 22 Jan 2025, 12:16 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)
EG Industries (EG | 8907)
Last Price: RM2.61 | Technical Call: BUY
| Support 1: RM2.50 | Resistance 1: RM2.80 |
| Support 2: RM2.38 | Resistance 2: RM3.00 |
| Shariah Compliant: Yes | Sector: Industrial |
EG Industries broke out from its 2-week bullish flag pattern with another positive candle yesterday, implying that its previous uptrend may have resumed. With the stock pushing near its all-time high, supported by its rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM2.50 level with stop-loss set at RM2.37, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.80, followed by RM3.00.
Entry: RM2.50-2.61
Target: RM2.80, RM3.00
Exit: RM2.37
Source: AmInvest Research - 22 Jan 2025
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