Friday, November 22nd, 2024

Technical Buy Opportunity: Zengame Technology Holding Ltd Primed for Significant Gains

Date of Report: October 8, 2024
Broker Name: CGS-CIMB Securities


Company Overview

Zengame Technology Holding Ltd is listed on the Hong Kong Stock Exchange under the ticker symbol 2660. The company focuses on mobile game development and publishing, leveraging its technical expertise and innovative solutions in the gaming industry.

Technical Buy Recommendation

Zengame Technology Holding Ltd has been recommended as a “Technical Buy” by CGS-CIMB Securities due to its strong technical indicators and potential for significant gains.

Key Entry and Target Prices:

  • Entry Prices: 3.33, 2.90, 2.50
  • Stop Loss: 2.28
  • Target Prices:
    • Target 1: 4.00
    • Target 2: 4.80
    • Target 3: 6.60
    • Target 4: 8.40

Technical Indicators

  1. Bullish Momentum:
    Zengame has demonstrated strong upward momentum, making it an attractive buy for investors. The company’s technical chart patterns suggest further gains in the short to medium term.

  2. Support and Resistance Levels:
    The stock has established solid support levels at 2.90 and 2.50, with potential resistance levels at 4.00 and higher, up to 8.40. These targets indicate the company’s potential to experience significant price appreciation.

Conclusion

Zengame Technology Holding Ltd is in a strong technical position, supported by solid entry prices and clearly defined target prices. The stock’s bullish momentum, as indicated by key technical indicators, suggests that it is poised for significant growth. With multiple price targets offering strong upside potential, Zengame presents an attractive investment opportunity.

Innovent Biologics: Pharma Giant in the Making with Strong Growth Prospects

Company Highlights: Innovent Biologics is evolving from a biotech company to a major pharmaceutical player in China, driven by its diverse drug pipeline. Key drugs such as Sintilimab, the company’s leading anti-PD-1 antibody, and...

Mapletree Pan Asia Comm. Trust: Navigating Market Headwinds with Strategic Resilience

Date of Report: October 28, 2024Broker: Maybank Research Pte Ltd Overview of Mapletree Pan Asia Comm. Trust (MPACT) Mapletree Pan Asia Comm. Trust (MPACT) is a prominent commercial Real Estate Investment Trust (REIT) investing...

Singapore REITs Weekly Roundup: Top Picks, Performance, and Market Trends

Comprehensive Analysis of Singapore REITs: Insights and Recommendations Published by OCBC Investment Research on 18 November 2024, this detailed equity research report dives into the performance and outlook of Singapore’s Real Estate Investment Trusts...