AmInvest Research Reports
Stock on Radar - Pekat Group (PEKAT)
AmInvest
Publish date: Fri, 27 Sep 2024, 09:30 AM
AmInvest
0 9,459
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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)
Pekat Group (PEKAT | 0233)
Last Price: RM0.975 | Technical Call: BUY
| Support 1: RM0.94 | Resistance 1: RM1.05 |
| Support 2: RM0.87 | Resistance 2: RM1.10 |
| Shariah Compliant: Yes | Sector: Industrial |
We expect further upside for Pekat Group given that it took out the 2-month downtrend line a week ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.94 level with stop-loss set at RM0.86, below the 9 Sep low. Towards the upside, near-term resistance level is seen at RM1.05, followed by RM1.10.
Entry: RM0.94-0.975
Target: RM1.05, RM1.10
Exit: RM0.86
Source: AmInvest Research - 27 Sep 2024
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