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AmInvest Research Reports

Author: AmInvest   |   Latest post: Tue, 1 Dec 2020, 12:48 PM

 

Stocks on Radar - Guan Chong (5102)

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Guan Chong surged and tested the RM3.10 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with higher low candlestick patterns, we believe that the bullish momentum may continue to climb towards the short-term target prices of RM3.21 and RM3.30. The downside support is anticipated at RM2.88, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.10
Target: RM3.21, RM3.30 (time frame: 2-4 weeks)
Exit: RM2.88

Source: AmInvest Research - 28 Jul 2020

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Labels: GCB

Related Stocks

Chart Stock Name Last Change Volume 
GCB 2.88 -0.01 (0.35%) 1,295,000 

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