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PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 12 May 2021, 9:06 AM

 

Technical Buy - PESTECH (5219)

Author:   |    Publish date:


  • Target Price: RM1.28, RM1.36
  • Last closing price: RM1.22
  • Potential return: 4.9%, 11.4%
  • Support: RM1.18
  • Stop Loss: RM1.12

Possible for sideways breakout. PESTECH 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 immediate resistance level of RM1.28 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM1.36.

However, failure to hold on to support level of RM1.18 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 15 Apr 2021

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Labels: PESTECH

Related Stocks

Chart Stock Name Last Change Volume 
PESTECH 1.07 +0.01 (0.94%) 1,299,800 

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