AmInvest Research Reports

Stock on Radar - QL Resources (QL)

AmInvest
Publish date: Fri, 04 Oct 2024, 09:18 AM
AmInvest
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QL Resources (QL | 7084)

Last Price: RM4.71 | Technical Call: BUY

Technical chart: QL

Support 1: RM4.60Resistance 1: RM5.00
Support 2: RM4.50Resistance 2: RM5.20
Shariah Compliant: YesSector: Consumer

We believe the buying interest for QL Resources is back after it pushed out from the 2-week bullish flag pattern yesterday. With the stock surging 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 RM4.60 level with stop-loss set at RM4.48, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM5.00, followed by RM5.20.

Entry: RM4.60-4.71

Target: RM5.00, RM5.20

Exit: RM4.48

 

Source: AmInvest Research - 4 Oct 2024

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