AmInvest Research Reports
Stock on Radar - SENG FONG HOLDINGS (SENFONG)
AmInvest
Publish date: Thu, 03 Oct 2024, 10:06 AM
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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)
SENG FONG HOLDINGS (SENFONG | 5308)
Last Price: RM1.21 | Technical Call: BUY
| Support 1: RM1.20 | Resistance 1: RM1.33 |
| Support 2: RM1.10 | Resistance 2: RM1.40 |
| Shariah Compliant: Yes | Sector: Industrial |
Seng Fong broke out from its 1-week bullish pennant pattern two sessions ago, implying that its previous uptrend may have resumed. As the 20-day and 50-day EMAs have established their bullish crossover a week back, the current upward momentum may continue in the near term. A bullish bias may emerge above the RM1.20 level with stop-loss set at RM1.08, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.33, followed by RM1.40.
Entry: RM1.20-1.21
Target: RM1.33, RM1.40
Exit: RM1.08
Source: AmInvest Research - 3 Oct 2024
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