AmInvest Research Reports
Stock on Radar - Matrix Concepts (MATRIX)
AmInvest
Publish date: Mon, 23 Sep 2024, 10:38 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)
Matrix Concepts (MATRIX | 5236)
Last Price: RM2.02 | Technical Call: BUY
| Support 1: RM1.95 | Resistance 1: RM2.20 |
| Support 2: RM1.87 | Resistance 2: RM2.30 |
| Shariah Compliant: Yes | Sector: Property |
We expect further upside for Matrix Concepts given that it has successfully taken out the RM1.95 key resistance with a long positive candle on Friday. The stock also posted 2 positive candles in a row and hit a new record high, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM1.95 level with stop-loss set at RM1.85, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.20, followed by RM2.30.
Entry: RM1.95-2.02
Target: RM2.20, RM2.30
Exit: RM1.85
Source: AmInvest Research - 23 Sep 2024
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