Technical Stockpick - Pentamaster Corp Bhd
Tue, 17-Dec-2024 06:29 am
by Amir Hamdan • Apex Research

PENTA (7160)
Last Price (RM)
4.25
Resistance (RM)
R1 — 4.50 / R2 — 4.80
Support (RM)
S1 — 4.00

Technical Commentary:

 

Price is on the rebound formation after staging a swift recovery in September and formed a triple bottom formation. Since then, price has formed a rally to close above EMA120. After forming bullish engulfing candle, price experienced a flag-formation breakout above RM4.12 and may advance to target the next resistances located at RM4.50-RM4.80. Downside wise, support is pegged at RM4.00.

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 4.375354 4.412699
EUR 4.573391 4.585347
CNY 0.603938 0.605575
HKD 0.561409 0.566244
SGD 3.236779 3.265133