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Target Price: RM0.330, RM0.350
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Last closing price: RM0.305
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Potential return: 8.1%, 14.7%
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Support: RM0.300
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Stop Loss: RM0.285
Possible for further upside. Without
creating new lower-low, the recent retracement made a halt and
AJIYA-WA’s share price is now forming a new support base. Putting “buy
the dips” strategy into practice, easing RSI and MACD indicators
currently signal reasonable entry level. Should resistance level of
RM0.330 be broken, it may continue to lift price higher to the next
resistance level of RM0.350. Note that the maturity date of AJIYA-WA
will be on 28 August 2021.
However, failure to hold at support level of RM0.300 may
indicate weakness in the share price and hence, a cut-loss signal
Source: PublicInvest Research - 29 Jun 2017
