Gamuda (GAMUDA | 5398)
Last Price: RM8.54 | Technical Call: BUY
Support 1: RM8.40 | Resistance 1: RM9.00 |
Support 2: RM7.80 | Resistance 2: RM9.50 |
Shariah Compliant: Yes | Sector: 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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GAMUDACreated by AmInvest | Dec 20, 2024
Created by AmInvest | Dec 19, 2024