Errata on EITA technical prices_
M+ Online Technical Focus - 8 Nov 21
EITA Resources Bhd: Embracing AI and IoT

Trading Catalyst
• One of the leading suppliers to electrical contractors, switchboard fabricators and OEM (Original Equipment Manufacturer) and manufacturer of elevator systems and busduct systems in Malaysia.
• Aims to integrate the artificial intelligence (AI) and internet of things (IoT) into their elevator systems through remote monitoring and facial recognition.
• As of 3QFY21, equipped with a healthy balance sheet with a net cash position of RM28.3m, translating to net cash per share of RM0.11 (c.11.3% of share price).
• Technically, traders may anticipate for a breakout above RM0.975 to target the next resistances at RM1.03-1.09 with long term target at RM1.20.

Technical View

(i) EITA (S: RM0.925, R: RM1.03-1.09, LT TP: RM1.20, CL: RM0.92)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online

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