Highlights

PublicInvest Research

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

 

Technical Buy - Permaju (7080)

Author:   |    Publish date:


  • Target Price RM0.205, RM0.225
  • Last closing price RM0.190
  • Potential return 7.8%, 18.4%
  • Support RM0.180
  • Stop Loss RM0.160

Possible for further rebound. PERMAJU formed a bullish engulfing candlestick pattern yesterday, of which signifies a potential halt in its prior downtrend. Slightly improved RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.205 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.225.

However, failure to hold on to support level of RM0.180 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 2 Oct 2020

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Labels: PERMAJU

Related Stocks

Chart Stock Name Last Change Volume 
PERMAJU 0.17 0.00 (0.00%) 2,612,800 

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