AmInvest Research Reports

Stock on Radar - Gamuda (GAMUDA)

AmInvest
Publish date: Wed, 23 Oct 2024, 08:46 AM
AmInvest
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Gamuda (GAMUDA | 5398)

Last Price: RM8.54 | Technical Call: BUY

Technical chart: GAMUDA

 

Support 1: RM8.40Resistance 1: RM9.00
Support 2: RM7.80Resistance 2: RM9.50
Shariah Compliant: YesSector: Construction

 

We expect further upside for Gamuda after it pushed above the RM8.40 resistance with a long positive candle yesterday. As the stock has surged to a new record high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM8.40 level with stop-loss set at RM7.78, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM9.00, followed by RM9.50.

Entry: RM8.40-8.54

Target: RM9.00, RM9.50

Exit: RM7.78

 

Source: AmInvest Research - 23 Oct 2024

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