ARMADA (5210) - UPDATE: TAKE PROFIT ARMADA (5210)

ARMADA (5210) - UPDATE: TAKE PROFIT ARMADA (5210)

• (Previous) Target price RM0.685, RM0.740
• (New) Target price RM0.740, RM0.790
• Last closing price RM0.725
• Potential return 2.0%, 8.9%
• Support RM0.700
• Stop loss RM0.680

Possible uptrend continuation. With reference to the Technical note published on 23rd January 2017, target price previously set were achieved and hence a proportion of holding is recommended to be sold in order to realize some profit. Nevertheless, the balance should be kept to ride along with the improving momentum towards resistance levels of RM0.740 and RM0.790. However, failure to hold at support level of RM0.700 may indicate weakness in the share price and hence, a cut-loss signal.

Possible uptrend continuation. With reference to the Technical note published on 23rd January 2017, target price previously set were achieved and hence a proportion of holding is recommended to be sold in order to realize some profit. Nevertheless, the balance should be kept to ride along with the improving momentum towards resistance levels of RM0.740 and RM0.790.

However, failure to hold at support level of RM0.700 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 20 Feb 2017

ARMADA (5210) - UPDATE: TAKE PROFIT ARMADA (5210)

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