AmInvest Research Reports
Stock on Radar - Muhibbah Engineering (M)
AmInvest
Publish date: Mon, 08 Jan 2024, 10:04 AM
AmInvest
0 9,463
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Muhibbah Engineering may trend higher after it broke above the RM0.80 resistance and posted a long white candle on Friday. As the stock also surged to a fresh multi-year high and coupled with rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.80 level, with stop-loss set at RM0.75, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.90, followed by RM0.95.
Entry : RM0.80–0.84
Target : RM0.90, RM0.95
Exit : RM0.75
Source: AmInvest Research - 8 Jan 2024
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