Tuesday, September 16th, 2025
Market Updates

Shanghai Electric Group Co Ltd: A Strong Technical Buy as Bullish Trends Strengthen

Posted on October 28, 2024 at 9:42 am (GMT+8)

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Date of Report

October 28, 2024

Broker Name

CGS International

Company Overview

Shanghai Electric Group Co Ltd is a major global provider of equipment and services in the electric power and industrial sectors. The company specializes in manufacturing and providing a wide range of energy-related products, including power generation equipment and renewable energy solutions.

Stock Performance

  • Last Price: RM2.40
  • Entry Price: RM2.40, RM2.00, RM1.80
  • Stop Loss: RM1.54
  • Targets: RM2.68, RM3.14, RM3.40, RM4.00

Technical Analysis

The stock is categorized as a technical buy, indicating that the bullish trend is both strong and in its early stages. The recent price movements suggest a positive outlook for continued growth.

Investment Recommendation

Investors are encouraged to enter positions at the specified entry price levels, with a stop-loss set at RM1.54. The stock is expected to reach multiple target prices, reflecting its potential for significant appreciation in value as it capitalizes on favorable market conditions.

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