REV (0173) - TECHNICAL BUY - REV (0173)

  • Target price RM0.835, RM0.900
  • Last closing price RM0.750
  • Potential return 11.3%, 20.0%
  • Support RM0.700
  • Stop Loss RM0.675
Possible for further upside. Without creating new lower-low, the recent retracement made a halt and REV’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 the price rebound further and the resistance level of RM0.755 be genuinely broken, it may continue to lift price higher to the subsequent resistance levels of RM0.835 and RM0.900. However, failure to hold onto support level of RM0.700 may indicate weakness in the share price and hence, a cut-loss signal

Source: PublicInvest Research - 5 Jul 2017