PublicInvest Research

Technical Buy - SENHENG (5305)

Publish date: Thu, 09 Nov 2023, 09:43 AM
0 10,792
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: RM0.390, RM0.420
  • Last closing price: RM0.350
  • Potential return: 11.4%, 20.0%
  • Support: RM0.345
  • Stop Loss: RM0.310

          Possible for trend reversal. SENHENG is potentially staging a breakaway from its recent retracement, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.390 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.420.

          However, failure to hold on to support level of RM0.345 may indicate weakness in the share price and hence, a cut-loss signal.

          Source: PublicInvest Research - 9 Nov 2023

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