Mid-cap tech stocks top gainers, Greatech hits RM4

  • Markets
  • Wednesday, 17 Jun 2020

KUALA LUMPUR: Small-mid capitalised technology-related stocks were among the top gainers on Wednesday, with Greatech Technology Bhd hitting a record high of RM4.

At midday, Greatech, which provides automation solutions, was up 17 sen to RM3.97 with RM4.36 million shares done.

AmInvestment retail research had earlier reported Greatech was poised to move higher to test the RM3.84 resistance level.

“With the RSI indicator pointing upwards, coupled with higher trading volume, this indicates the stock is gaining a bullish momentum.

“If it breaks out from resistance, it will move towards the short-term target prices of RM4.02 and RM4.22. The downside support is anticipated at RM3.50, whereby traders may exit on a breach to avoid the risk of a further correction, ” it said.

The recent high for Greatech was RM3.88 on Feb 26.

Supercomnet Technologies Bhd surged 27 sen to RM1.30 with 38 million shares done while its warrants jumped 25 sen to 80 sen with 12.7 million units.

MMS Ventures Bhd rallied 16.5 sen to 77.5 sen with 29.9 million shares done.

SAM Engineering advanced 21 sen to RM5.97.

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