Journey of Beta Hunting

Ryde Group Ltd. (NYSE: RYDE) - Testing Support Levels

wng288
Publish date: Wed, 06 Nov 2024, 08:15 PM
wng288
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A blog that is seeking for Beta hunting across global investments.

Singapore-based mobility and quick commerce solutions provided Ryde Group Ltd. is seeing a test on the key support level of $0.450 over the shorter term period. The RSI indicator however, is showing an indication of the stock being oversold, which gives out a potential buy-at-low opportunity. Based on our understanding, a recent research report by Maxim Group had given a target price of $2.00 to the company, giving the company a significant potential upside ahead.

We kept a BUY rating for Ryde Group for the next 12 months.

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