AmInvest Research Reports

Stock on Radar - Solar District Cooling Group (SDCG)

AmInvest
Publish date: Tue, 05 Nov 2024, 11:13 AM
AmInvest
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Solar District Cooling Group (SDCG | 0321)

Last Price: RM0.54 | Technical Call: BUY

Technical chart: SDCG

Support 1: RM0.51Resistance 1: RM0.60
Support 2: RM0.47Resistance 2: RM0.65
Shariah Compliant: YesSector: Industrial

We expect further upside for Solar District Cooling Group after it broke above the key RM0.51 resistance with a long positive candle yesterday. As the stock has surged to a 6-week high, the upward momentum appears to be picking up. A bullish bias may emerge above the RM0.51 level with stop-loss set at RM0.46, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65.

Entry: RM0.51-0.54

Target: RM0.60, RM0.65

Exit: RM0.46

 

Source: AmInvest Research - 5 Nov 2024

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