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Technical Stock Pick - Pansar Bhd

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Publish date: Mon, 19 Oct 2020, 10:45 AM
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JF Apex Research
Technical Stock Pick - Pansar Bhd
 

 

Closed:                    RM0.70

Resistance:              (R1) RM0.75/(R2) RM0.80

Support:                  (S1) RM0.65 /(S2) RM0.60

 

 

Pansar Bhd (8419) rose 1 sen to RM0.70 to test the 50-day moving average (blue line).

 

Technical indicators are encouraging with the MACD rising above its signal line and the RSI climbing towards the overbought zone.
After last week’s surge, the stock could pull back but has a chance to extend its rebound if share price sustains above RM0.65. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.65.

 

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