Shin Moomoo MY wrote a post · May 27 02:33

Naked Chart Trading: GADANG 27 May 2024

$YTLPOWR (6742.MY)$ and $GAMUDA (5398.MY)$ are not the only companies that benefit from data centre projects! Let me study some companies chart that also step into data centre project

$GADANG (9261.MY)$ secured a RM280 million contract to design and develop the Klang Valley Data Centre Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of $TM (4863.MY)$

The contract size may not as big as the others for now, but there is a huge space for growth. For instance, Bridge Data Centres (BDC), the subsidiary of Chindata in Southeast Asia, has acquired new land in Selangor for the development of its third data centre, MY02, in Cyberjaya, Malaysia as it expands its presence in Malaysia, which may open new possibilities for mroe data centre development in Cyberjaya.

$GADANG (9261.MY)$ Weekly Chart

The share prices just started a strong spike today, hitting more than 3 years high. Long term wise, the share prices in a downtrend since Oct 2016, followed by a U shape rebound recently. Based on Fibo analysis from Apr 2019 high to Mar 2020 low, share prices are currently testing 38.2% around RM0.470, followed by next resistance 50% RM0.550 and 61.8% RM0.640.

Support levels are RM0.415, RM0.365 and RM0.300. Trend now is in early testing rebound stage. The bull trend is not as strong as YTLPOWR and Gamuda, but watch out for future QR and development of Gadang.

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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.

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Shin Moomoo MY

Trading is a mirror that reflects everything about myself 交易就是一面反映自身一切的镜子

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