Quick take: BTM rises 5.8% on technical buy

KUALA LUMPUR: Shares in BTM Resources Bhd rose in early trade Friday following a technical buy call from PublicInvest Research.

The management services provider rose 5.88%, or 1.5 sen to 27 sen with over 14 million shares exchanged hands. BTM-WB added 1.5 sen to 17 sen.

PublicInvest said BTM is staging a potential breakout from its sideways channel.

It said the slightly improved RSI and MACD indicators currently signalled reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term.

“Should immediate resistance level of 26.5 sen be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of 28 sen and 30 sen.

“However, failure to hold on to the support level of 24 sen may indicate weakness in the share price and hence, a cut-loss signal,” PublicInvest said, adding that the stop loss level is at 22 sen.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

BTM Resources


Next In Business News

English shops and pub gardens reopen in 'major step' to freedom
Most European city-dwellers support 2030 ban on combustion car sales
Possible chip glut scenario
Pharmaniaga appointed sole distributor of Baraka in Malaysia
FBM KLCI likely to trade higher next week
Aramco agrees US$12.4bil deal to sell stake in pipelines
Solar in Malaysia - Challenges, and too much of a good thing?
CPO futures to see volatile trading next week, eyes on MPOB data
Pfizer, BioNTech seek US emergency nod for COVID-19 vaccine in adolescents
Eyes on next generation as Singapore succession is thrown into question

Stories You'll Enjoy