Go Hub Capital Bhd (GOHUB, 0311)

• GOHUB posted two consecutive strong candlesticks, closing above the EMAs yesterday. The sharpuptick of the 20-day EMA suggests a potential bullish convergence and trend shift in the near term. We see a resurgence of buying interests of the stock and expect further upside if it breaks above the RM1.25 level.

• We anticipate the stock to test the initial resistance at RM1.37 (R1), with RM1.53 (R2) as the nexttarget, supported by continued upward momentum.

• On the downside, stop-loss is set at RM0.96.

Source: Rakuten Research - 12 Nov 2024

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