AmInvest Research Reports
Stock on Radar - Ibraco (IBRACO)
AmInvest
Publish date: Thu, 28 Nov 2024, 04:59 PM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Ibraco (IBRACO | 5084)
Last Price: RM1.29 | Technical Call: BUY
| Support 1: RM1.25 | Resistance 1: RM1.40 |
| Support 2: RM1.16 | Resistance 2: RM1.50 |
| Shariah Compliant: Yes | Sector: Property |
We expect further upside for Ibraco after it gapped up and pushed above the RM1.25 resistance yesterday. As the stock also surged to a fresh multi-year high and coupled with its rising EMAs, additional strength may be present in the near term. A bullish bias may emerge above the RM1.25 level with stop-loss set at RM1.14, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.40, followed by RM1.50.
Entry: RM1.25-1.29
Target: RM1.40, RM1.50
Exit: RM1.14
Source: AmInvest Research - 28 Nov 2024
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