AmInvest Research Reports
Stock on Radar - EG Industries
AmInvest
Publish date: Thu, 25 Apr 2024, 10:24 AM
AmInvest
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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)
EG Industries’ buying interest is back after it broke out of the 1-week bullish pennant pattern with a long white candle yesterday. As its 20-day and 50-day EMAs are converging now and are likely to turn up in the near term, upward momentum is rising. A bullish bias may emerge above the RM1.45 level with stop-loss set at RM1.34, below the 50-day EMA. Towards the upside, nearterm resistance level is seen at RM1.60, followed by RM1.70.
Entry : RM1.45–1.49
Target : RM1.60, RM1.70
Exit : RM1.34
Source: AmInvest Research - 25 Apr 2024
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