AmInvest Research Reports

Stock on Radar - ITMAX System (ITMAX)

AmInvest
Publish date: Tue, 24 Sep 2024, 09:13 AM
AmInvest
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ITMAX System (ITMAX | 5309)

Last Price: RM3.57 | Technical Call: BUY

Technical chart: ITMAX

 

Support 1: RM3.50Resistance 1: RM4.00
Support 2: RM3.20Resistance 2: RM4.20
Shariah Compliant: YesSector: Technology

 

ITMAX System's buying interest is back after it broke out of the 6-week bullish rectangle pattern with a long positive candle yesterday. With the stock pushing near its all-time high, supported by its rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM3.50 level with stop-loss set at RM3.18, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.00, followed by RM4.20.

Entry: RM3.50-3.57

Target: RM4.00, RM4.20

Exit: RM3.18

 

Source: AmInvest Research - 24 Sep 2024

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