Homeritz Corporation (HMCB MK)
Technical BUY with +19.5% potential return
Last price : RM0.795
Target Price : RM0.875, RM0.950
Support : RM0.755
Stop-loss: RM0.750
BUY with a target price of RM0.950 with stop loss placed below RM0.750. HMCB’s share price has been consolidating within the “cloud’ for the last 13 days as it gradually climbed
above the rising trendline. Following yesterday’s minor surge above the “cloud”, HMCB has closed above both the 10-day and
21-day SMA lines, indicating the share price is likely to nudge higher in the near term. Given the bullish crossover in Stochastic, we expect
the rising momentum to push the share price higher hereafter. Moving forward, we peg our medium-term target at the 1.61x Fibonacci extension level of RM0.950.
Congrats Homeriz shareholders!!