PublicInvest Research

Technical Buy - TECHBASE (8966)

PublicInvest
Publish date: Fri, 19 Apr 2024, 10:32 AM
PublicInvest
0 10,852
An official blog in I3investor to publish research reports provided by PublicInvest Research team.

All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp

PUBLIC INVESTMENT BANK BERHAD (20027-W)
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 RM0.225, RM0.250
  • Last closing price: RM0.200
  • Potential return: 12.5%, 25.0%
  • Support: RM0.195
  • Stop Loss: RM0.175

        Possible for chart pattern breakout. TECHBASE is potentially staging abreakout from its descending triangle pattern, with anticipation of continuousimprovement in both momentum and trend in the near term. Should immediateresistance level of RM0.225 be broken with renewed buying interest, it maycontinue to lift price higher to subsequent resistance level of RM0.250.

        However, failure to hold on to support level of RM0.195 may indicate weakness in the share price and hence, a cut-loss signal.

        Source: PublicInvest Research - 19 Apr 2024

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