Date: Thursday, 3 October 2024
Broker: UOB Kay Hian Securities (M) Sdn. Bhd.
Company Overview
DPS Resources (DPS MK) is a company involved in various manufacturing and industrial operations, focusing on producing and distributing materials for the construction and furniture industries.
Stock Data and Technical Analysis
- Last Price: RM0.56
- Target Price: RM0.615 and RM0.64
- Support Level: RM0.53
- Stop-loss Level: RM0.525
- Potential Return: +14.3%
- Timeframe: Expected to reach target price within two weeks to two months.
Technical Buy Signal
DPS Resources has recently rebounded from a major support level of RM0.53, signaling the start of a new uptrend. The stock closed above the BBI (Buyer’s Block Indicator) line, indicating a strong technical setup for further gains. The positive momentum is supported by higher trading volumes, as well as favorable readings from both the RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence), both of which suggest increased buying interest.
Short-Term Outlook
DPS Resources is poised for further gains, with the stock showing a clear uptrend supported by technical indicators. The immediate upside targets are set at RM0.615 and RM0.64. Investors are advised to buy into the stock with a stop-loss set at RM0.525 to limit potential downside risk.
Investment Recommendation
DPS Resources presents a buying opportunity, with a positive outlook based on its recent technical rebound. The anticipated upside of 14.3% provides a promising short-term trading opportunity. Investors should monitor the stock closely for continued bullish momentum.
This section provides a detailed technical overview of DPS Resources, highlighting the stock’s short-term potential based on market indicators.
