DATAPRP (8338) - Technical Buy: DATAPRP (8338)

• Target Price: RM0.465, RM0.485
• Last closing price: RM0.420
• Potential return: 10.7%, 15.4%
• Support: RM0.390
• Stop Loss: RM0.375

Possible for further upside. Without creating new lower-low, the recent retracement made a halt and DATAPRP’s share price is now forming a new support base. Putting “buy the dips” strategy into practice, bullish RSI and easing MACD indicators currently signal reasonable entry level. Should resistance level of RM0.445 be broken, it may continue to lift price higher to the next resistance levels of RM0.465 and RM0.485.
However, failure to hold onto support level of RM0.390 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 3 Jul 2017


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