AmInvest Research Reports
Stock on Radar - P.I.E. Industrial
AmInvest
Publish date: Wed, 29 May 2024, 10:43 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)
We expect further upside for P.I.E. Industrial after it recouped the previous session’s losses and closed above the RM6.10 resistance yesterday. Given that the stock has broken out from a 5-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM6.10 level with stop-loss set at RM5.58, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM7.00, followed by RM7.50.
Entry : RM6.10–6.25
Target : RM7.00, RM7.50
Exit : RM5.58
Source: AmInvest Research - 29 May 2024
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