Rakuten Trade Research Reports

Technical View - OCK Group Bhd

rakutentrade
Publish date: Mon, 19 Feb 2024, 12:50 PM
rakutentrade
0 2,157
An official blog in I3investor to publish research reports provided by Rakuten Trade research team.

All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/

To sign up for an account: http://bit.ly/40BNqKI

Rakuten Trade

Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my

OCK Group Bhd (OCK, 0172)

  • Share price has surged 24% since our last technical buy call on 5 Jan 2024.
  • OCK may trend higher after it hit a new 52-week high last Friday to break out from its one monthascending triangle pattern. With the stock pulling further away from all the EMAs coupled with a white marubozu candlestick formed last Friday, the uptrend may continue in the near term.
  • We expect the rising momentum is set to steer the stock to trend higher and test the next level ofresistance of RM0.60 (R1), followed by RM0.64 (R2).
  • On the downside, stop-loss is set at RM0.50, below the 5 Feb’s low.
  • Fundamentally, we like OCK due to its solid earnings growth, driven by (i) the ongoing 5G rollout inMalaysia, (ii) expansion of tower networks in Vietnam, (iii) higher value contracts in Indonesia, and (iv) interest savings from debt restructuring. As a result, we believe OCK’s prospective earnings should see positive impacts.

Source: Rakuten Research - 19 Feb 2024

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment