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Stock Picks: Greatec And Skygate Solutions

Business Today ·  Jan 8 07:48
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RHB Investment Bank Bhd (RHB Research) highlights that Greatec is poised for further upside after a strong breakout above the RM2.33 resistance level with significant trading volume.

The stock formed a long bullish candlestick, signalling strong momentum. RHB Research projected the stock to climb towards RM2.45, with a further target of RM2.55. However, a dip below the RM2.20 support level would negate the bullish outlook and indicate a correction phase.

Skygate Solutions also demonstrated robust performance, surpassing its RM1 resistance level and forming a bullish white candlestick. The rising trading volume alongside the price indicates accelerating positive momentum. The stock is now targeting RM1.10, with a subsequent goal of RM1.20.

RHB Research cautioned that a decline below the RM0.88 support level would invalidate the bullish trajectory and trigger a correction.

Both stocks are riding strong momentum, but investors are advised to monitor their respective support levels to manage potential downside risks.

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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