Naked Chart Trading: EPMB 20 Jun 2024
$EPMB (7773.MY)$ is targeting to begin vehicle production at its factory in Hicom Pegoh Industrial Park in Melaka in Q4 2024. EPMB will kick off with builds for two Chinese carmakers. The first is China-based Beijing Automotive Group (BAIC), with the company having inked a 10-year vehicle assembly agreement with the carmaker in April.
The company will also produce vehicles for Great Wall Motor (GWM), via the company's subsidiary, Peps-JV Melaka (PJVM), having been appointed earlier this year as a contract vehicle assembler for the Chinese automaker in Malaysia for a period of eight years.
The models from both Chinese carmakers are target to debut in later this year and next year, which the company expect to see new revenue factor in after the debut. Will also EV trend boost the business of EPMB?
$EPMB (7773.MY)$ Weekly Chart
EPMB showed a strong gains this week
Long term trend: More to bearish
Short term trend: Testing rebound
Fibo Analysis (Feb 2022 high to May 2023 low): Price move between 23.6% to 61.8%, close above RM1.05 to trigger more upside, likely aim for RM1.40 2022 high
Resistance: RM0.870 (close above to trigger more upside), RM0.930, RM1.05
Support: RM0.780, RM0.710, RM0.630
There is no signal of strong bull trend yet but fundamentally back by potential revenue booster, continue to watch out for this company financial performance.
Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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