PublicInvest Research

Technical Buy - OVERSEA (0153)

Publish date: Fri, 07 May 2021, 09:38 AM
An official blog in I3investor to publish research reports provided by PublicInvest Research team.

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9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718

  • Target Price: RM0.160, RM0.180
  • Last closing price: RM0.145
  • Potential return: 10.3%, 24.1%
  • Support: RM0.130
  • Stop Loss: RM0.115

Possible for sideways breakout. OVERSEA is staging a potential breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while undergoing congestion phase, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.160 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.180.

However, failure to hold on to support level of RM0.130 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 7 May 2021

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