PublicInvest Research

Author: PublicInvest   |   Latest post: Mon, 19 Apr 2021, 10:07 AM


Technical Buy - BTM (7188)

Author:   |    Publish date:

  • Target Price: RM0.280, RM0.300
  • Last closing price: RM0.255
  • Potential return: 9.8%, 17.6%
  • Support: RM0.240
  • Stop Loss: RM0.220

Possible for further recovery. BTM is staging a potential breakout from its sideways channel. 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 immediate resistance level of RM0.265 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.280 and RM0.300.

However, failure to hold on to support level of RM0.240 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 5 Mar 2021

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Labels: BTM

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