AmInvest Research Reports

Stock on Radar - Gamuda (GAMUDA)

AmInvest
Publish date: Mon, 14 Oct 2024, 10:45 AM
AmInvest
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Gamuda (GAMUDA | 5398)

Last Price: RM8.15 | Technical Call: BUY

Technical chart: GAMUDA

Support 1: RM8.00Resistance 1: RM9.00
Support 2: RM7.70Resistance 2: RM9.50
Shariah Compliant: YesSector: Construction

Gamuda's buying interest is back after it broke out of the 3-week bullish flag pattern with a positive candle two sessions ago.

With the stock pushing near its all-time high and with its rising EMAs, it may see additional strength in the near term. A bullish bias may emerge above the RM8.00 level with stop-loss set at RM7.68, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM9.00, followed by RM9.50.

Entry: RM8.00-8.15

Target: RM9.00, RM9.50

Exit: RM7.68

 

Source: AmInvest Research - 14 Oct 2024

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