KLSE (MYR): SPRITZER (7103)
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Last Price
3.02
Today's Change
-0.04 (1.31%)
Day's Change
3.02 - 3.06
Trading Volume
2,200
2024-12-13
2024-12-10
2024-12-10
2024-12-10
2024-12-10
2024-12-10
2024-12-10
2024-12-10
johnny cash
6,400 posts
Posted by johnny cash > 2014-06-18 09:45 | Report Abuse
Spritzer (SPZ MK)
Technical BUY with +16.6% potential return
Last price : RM1.93
Target Price : RM2.13, RM2.25
Support : RM1.80
Stop-loss: RM1.79
BUY with a target price of RM2.25 with stop
loss placed at below RM1.79. SPZ hit a new
high at RM2.13 before retracing and
consolidating in the “flag” pattern over the last
10 weeks. However, yesterday’s breakout on
the back of a higher trading volume of 0.3m
shares (vs 20-day average of 0.05m) signals
the end of the current consolidation and could
kick-start a new up-leg. Additionally, positive
readings in both RSI and MACD indicate
improving momentum, along with the positive
closing above both the 10-day and 21-day
SMA lines. These should, In our view, push the
share price higher. We peg our medium-term
upside target at the 1.38x Fibonacci extension
level of RM2.25 with the expectation that SPZ
would breeze through the recent high of
RM2.13.