PublicInvest Research

Technical Buy - CORAZA (0240)

Publish date: Fri, 16 Feb 2024, 12:11 PM
0 10,783
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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: RM0.460, RM0.490
  • Last closing price: RM0.435
  • Potential return: 5.7%, 12.6%
  • Support: RM0.405
  • Stop Loss: RM0.385

        Possible for trend reversal. CORAZA is potentially staging a breakaway fromits downtrend, with anticipation of continuous improvement in both momentumand trend in the near term. Should immediate resistance level of RM0.460 bebroken with renewed buying interest, it may continue to lift price higher tosubsequent resistance level of RM0.490.

        However, failure to hold on to support level of RM0.405 may indicate weakness in the share price and hence, a cut-loss signal.

        Source: PublicInvest Research - 16 Feb 2024

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