AmInvest Research Reports
Stock on Radar - EG Industries (EG)
AmInvest
Publish date: Mon, 30 Dec 2024, 09:57 AM
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)
EG Industries (EG | 8907)
Last Price: RM2.47 | Technical Call: BUY
| Support 1: RM2.36 | Resistance 1: RM2.60 |
| Support 2: RM2.25 | Resistance 2: RM2.80 |
| Shariah Compliant: Yes | Sector: Industrial |
EG Industries may trend higher after it hit a new 52-week high with a long positive candle on Friday. Given that the stock has broken out from the 3-week bullish flag pattern as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM2.36 level with stop-loss set at RM2.23, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.60, followed by RM2.80.
Entry: RM2.36-2.47
Target: RM2.60, RM2.80
Exit: RM2.23
Source: AmInvest Research - 30 Dec 2024
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