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Technical Stock Pick - G Capital Bhd

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Publish date: Fri, 16 Oct 2020, 08:44 AM
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JF Apex Research
Technical Stock Pick - G Capital Bhd
 

 

Closed:                    RM0.665

Resistance:              (R1) RM0.725/(R2) RM0.80

Support:                  (S1) RM0.56 /(S2) RM0.51

 

 

G Capital Bhd (7676) rose 10 sen to RM0.665 to break out from the 200-day moving average (orange line).

 

Technical indicators are encouraging with the MACD crossing above its signal line and the RSI climbing towards the overbought zone.
After yesterday’s surge, the stock could pull back but has a chance to extend its rebound if share price sustains above 58.5 sen where the 200-day moving average (orange line) stands. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.56, which is its recent low.
 

 

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