AmInvest Research Reports

Stock on Radar - Genetec Technology (GENETEC)

AmInvest
Publish date: Wed, 11 Dec 2024, 11:06 AM
AmInvest
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Genetec Technology (GENETEC | 0104)

Last Price: RM1.24 | Technical Call: BUY

Technical chart: GENETEC

Support 1: RM1.10Resistance 1: RM1.40
Support 2: RM1.06Resistance 2: RM1.50
Shariah Compliant: YesSector: Technology

We believe the buying interest for Genetec Technology may have returned after it broke above the RM1.10 resistance with a long positive candle 2 weeks ago. As the 20-day and 50-day EMAs have confirmed their bullish crossover a few candles back, the stock looks positive in the near term. A bullish bias may emerge above the RM1.10 level with stop-loss set at RM1.05, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.40, followed by RM1.50.

Entry: RM1.10-1.24

Target: RM1.40, RM1.50

Exit: RM1.05

Source: AmInvest Research - 11 Dec 2024

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