Panda Eco System may trend higher after it broke above the RM0.30 resistance and hit a new all-time high yesterday. The stock also posted 2 white candles in a row and its 20-day EMA is starting to turn upward, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM0.30 level with stop-loss set at RM0.27, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.36, followed by RM0.38.
Two good things will be coming to Panda.. 1. Improvement in profits which is going to be announced by end of the month. 2. E-Invoicing submission dateline by 1st August. Panda will have an upper hand in it. This will jolt the share price to around at least 60c before 1st August.
Rakuten put TP 50cents for Panda yesterday. very bullish sign. almost 70% profit of last year already achieved during the first quarter of 2024. very impressive indeed. Let's go!
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Posted by fensiang > 2024-03-25 15:47 | Report Abuse
Sifu target price, 80c to 90c which ever is lower