Pekat Group (0233) – A Technical Buy Opportunity
Pekat Group Berhad, a renowned provider of renewable energy solutions, has been spotlighted as a potential technical buy in this report. The company offers innovative solar panel solutions, lightning protection, earthing systems, and comprehensive renewable energy systems, primarily serving the Malaysian market. As of the latest trading session, the stock price stands at 0.945, with analysts suggesting an entry price range of 0.905 to 0.945. With support levels identified at 0.865 and 0.82, a stop-loss is advised at 0.86. The resistance thresholds are pegged at 1.00 and 1.06, with a target range of 1.00 to 1.06.
The report highlights a promising breakout above a 4-month long triangle pattern, suggesting the onset of a new uptrend. Strengthening indicators such as the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) imply that buyer strength is on the rise. Aggressive traders are encouraged to consider long positions, keeping a vigilant eye on the stop-loss set at RM0.86.
Tex Cycle Technology Malaysia (0089) – Anticipating Further Upside
Tex Cycle Technology Malaysia Bhd is an investment holding entity specializing in the collection and safe disposal of soiled rags, wipes, and gloves from various industries including electronics, engineering, and automotive, among others. The stock’s last recorded price is 1.15, with an advised entry range between 1.10 to 1.15. Support levels are at 1.04 and 0.975, while a stop-loss is recommended at 1.03. The resistance levels are identified at 1.22 and 1.28, with targets set accordingly.
Recent trading sessions have showcased a strong close above all EMAs, supporting a wedge breakout that occurred earlier. With increasing trading volumes and strengthening MACD and RSI, the bulls appear to be gaining significant momentum. The report suggests that aggressive traders might consider going long, setting a stop-loss slightly below the 20-day EMA at RM1.03.
Actively Managed Portfolio and Market Overview
The Actively Managed Portfolio, designed for medium-term investments, emphasizes a strategy of letting profits run and cutting losses short. The portfolio has remained in a risk-off mode this week, with a final issue for the year scheduled for December 13. The portfolio will reset to RM1 million at the start of the next year.
In terms of broader market trends, the FBMKLCI Index showed a slight uptick to 1,615.64, testing its resistance levels. The report underscores the importance of the index remaining above the 200-day EMA and recent double bottom lows to maintain bullish prospects.
IPO Tracker and Market Movements
The IPO landscape in Malaysia has seen significant activity, with notable performances from companies such as KJTS Group, Master Tec Group, and HE Group, among others. The report provides a detailed tracker of the latest IPOs, highlighting percentage changes and market capitalization.
Global market indices and commodities are also covered, providing a snapshot of current trends and year-to-date changes. For instance, the Dow Jones and S&P 500 have experienced fluctuations, while commodities like gold and cocoa have shown significant year-to-date gains.
