Date: October 22, 2024
Broker: CGS International

Overview

Gamuda is a leading Malaysian engineering, property, and infrastructure company. It is engaged in the construction of large-scale infrastructure projects, including highways, railways, and water supply systems, as well as property development. Gamuda has established itself as a key player in Malaysia’s infrastructure sector and continues to expand its footprint.

Current Stock Performance

• Last Price: RM 8.20
• Entry Price Range: RM 8.15
• Support Levels:
  • Support Level: RM 7.40
• Resistance Levels:
  • Resistance 1: RM 8.74
  • Resistance 2: RM 9.00
• Stop Loss: RM 7.40
• Target Prices: RM 8.74, 9.00

Technical Analysis

Gamuda’s stock shows signs of steady growth, marked by recent movements above critical support levels. The stock price has been relatively stable, and a consistent trading pattern indicates underlying investor confidence. The technical indicators are favorable, with positive momentum driven by a combination of rising support levels and target prices.

Key technical metrics suggest that Gamuda is likely to maintain its upward trajectory, providing a balanced opportunity for traders to capitalize on its growth potential. The resilience around the support level at RM 7.40 further strengthens the stock’s bullish outlook.

Trading Strategy

Investors may consider taking long positions at the current price of RM 8.15, with a recommended stop loss at RM 7.40 to manage downside risk. The upside targets are set at RM 8.74 and RM 9.00, reflecting a measured approach to capitalizing on potential price gains as the stock approaches resistance levels.

Analyst Comments

Gamuda’s technical setup remains solid, supported by its strong market position in the infrastructure sector. The stock’s recent performance has demonstrated resilience, suggesting that it can potentially achieve the set targets if current trends continue. The strategic stop loss and multiple resistance targets make this an attractive option for traders looking to leverage growth in Malaysia’s infrastructure sector.