Technical stockpick - Itmax System Bhd
Fri, 08-Nov-2024 08:24 am
by Kenneth Leong • Apex Research

ITMAX (5309)
Last Price (RM)
3.550
Resistance (RM)
R1 — 3.780 / R2 — 3.900
Support (RM)
S1 — 3.380

Technical Commentary: 

Price has staged a sharp rally since June before peaking last month. Thereafter, price underwent a mild pullback and dipped below EMA20. Coming closer, price appears to have found stability and formed a bullish candle to close above EMA9. Traders may monitor for a potential breakout above RM3.55 to target the next resistances located at RM3.78-3.90. Downside wise, support is pegged at RM3.38.

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.457270 4.493140
EUR 4.657492 4.667155
CNY 0.609157 0.610484
HKD 0.573916 0.578553
SGD 3.274410 3.301348