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PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 27 Nov 2020, 11:04 AM

 

Technical Buy: GCB-WB (5102WB)

Author:   |    Publish date:


  • Target Price: RM0.980, RM1.07
  • Last closing price: RM0.865
  • Potential return: 13.2%, 23.6%
  • Support: RM0.800
  • Stop Loss: RM0.740

Possible for further upside. GCB-WB is staging a potential breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.980 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM1.07. Note that the maturity date of GCB-WB is on 4 Nov 2022.

However, failure to hold on to support level of RM0.800 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 20 May 2020

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Labels: GCB

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