• Target Price RM0.980, RM1.05
• Last closing price: RM0.930
• Potential return: 5.3%, 12.9%
• Support: RM0.900
• Stop Loss: RM0.830

Possible for chart pattern breakout. MYEG is potentially staging a breakout from its descending triangle pattern, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.980 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM1.05.

However, failure to hold on to support level of RM0.900 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 18 Sept 2024