PublicInvest Research

Technical Buy - DUFU (7233)

Publish date: Wed, 22 Nov 2023, 10:07 AM
0 10,786
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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: RM1.90, RM2.00
  • Last closing price: RM1.81
  • Potential return: 4.9%, 10.4%
  • Support: RM1.77
  • Stop Loss: RM1.64

          Possible for sideways breakout. DUFU is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM1.90 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM2.00.

          However, failure to hold on to support level of RM1.77 may indicate weakness in the share price and hence, a cut-loss signal.

          Source: PublicInvest Research - 22 Nov 2023

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