AmInvest Research Reports

Stock on Radar - Solarvest (SLVEST)

AmInvest
Publish date: Tue, 21 Jan 2025, 11:43 AM
AmInvest
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Solarvest (SLVEST | 0215)

Last Price: RM1.75 | Technical Call: BUY

Technical chart: SLVEST

Support 1: RM1.70Resistance 1: RM1.83
Support 2: RM1.65Resistance 2: RM2.00
Shariah Compliant: YesSector: Energy

Solarvest posted two positive candles in a row and its 20-day EMA has started to turn upwards yesterday, likely indicates the return of buying interest. As the stock also broke out of the 3-week bullish rectangle pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM1.70 level with stop-loss set at RM1.63, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.83, followed by RM2.00.

Entry: RM1.70-1.75

Target: RM1.83, RM2.00

Exit: RM1.63

 

Source: AmInvest Research - 21 Jan 2025

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