Ann Joo Resources (AJR MK)

Technical Overview and Stock Performance:

• Last Price: RM0.975
• Target Price: RM1.11, RM1.19
• Support Level: RM0.91
• Stop-loss Level: RM0.905

Ann Joo Resources is currently presenting a bullish technical breakout opportunity. After consolidating near the immediate support level of RM0.91, the stock recently closed above the BBI (Base Buildup Index) line, signaling a shift in short-term momentum. The stock is poised to move higher, with its bullish bias further supported by an uptick in the RSI (Relative Strength Index) and a bullish MACD crossover. Both indicators suggest that the stock could continue making higher highs and higher lows.

• Investment Recommendation: A Technical Buy is recommended, with a potential upside of 20.2%. The first target price is RM1.11, followed by RM1.19. Investors are advised to set a stop-loss at RM0.905 to manage potential downside risks.
• Expected Timeframe: The anticipated timeframe for this trade is between two weeks to two months, depending on market conditions and the stock’s ability to maintain its bullish breakout.

Ann Joo Resources appears to be in a favorable technical position for short- to medium-term gains, driven by improving technical indicators and the potential for further bullish movement.

Thank you