PublicInvest Research

Technical Buy - OMESTI (9008)

Publish date: Fri, 12 Apr 2024, 10:50 AM
0 10,860
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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: RM0.170, RM0.185
  • Last closing price: RM0.155
  • Potential return: 9.6%, 19.3%
  • Support: RM0.150
  • Stop Loss: RM0.140

        Possible for technical rebound. After being oversold in the past three weeks,OMESTI is potentially staging a rebound off its current horizon, with anticipationof continuous improvement in both momentum and trend in the near term.Should immediate resistance level of RM0.170 be broken with renewed buyinginterest, it may continue to lift price higher to subsequent resistance level ofRM0.185.

        However, failure to hold on to support level of RM0.150 may indicate weakness in the share price and hence, a cut-loss signal.

        Source: PublicInvest Research - 12 Apr 2024

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