The Daily Pulse of Bursa Malaysia

19-Apr-2024-Fri: Stock Analysis – SYSTECH (0050) – RM0.455:

zaclim
Publish date: Fri, 19 Apr 2024, 09:14 AM
zaclim
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Reviewing from the daily technical chart, SYSTECH’s stock price has been on pullback consolidation from previous high at RM0.620 down to as low as RM0.405 in 5 months where it was supported by the SMA200 line. Thereafter, the stock price moved sideway and rebounded to recent high at RM0.470. The short term EMA lines are turning around in order already while the medium term EMA lines are in the midst of turning around at crossing over juncture. The stock price is riding above all EMA lines where they are supported above rising SMA200 line at around RM0.425. This indicates that the stock price is preparing to resume uptrend along with its markup phase;

If the stock price could breakout and stay above RM0.470 for higher high with trending momentum and increasing volume, then let’s monitor for the next possible short-term targets around RM0.485, 0.500, 0.515, 0.535, 0.550, 0.580, 0.600, and 0.620. Long term investors may prospect for possible long-term targets to challenge around RM0.630, 0.700, 0.750, 0.830, 0.925, 1.12, 1.22, 1.31, and 1.40;

Should the new higher high beyond RM0.470 be successful, trailing stop with EMA20 or EMA30 line, or if the stock price were to pullback unexpectedly, put the short-term stop loss below RM0.440 or worst case below RM0.420;

Stock analyser shows fundamentally PFS9=7 indicates FA is quite good, and technically TAS20>55% indicates that the stock price may biased for further rebound and prepares to resume uptrend along with its markup phase;

SYSTECH BHD (SYSTECH, 0050) is listed under ACE market’s Technology Sector.

Principal Products / Services:

e-business solution, Cyber security solution, e-logistics solution.

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