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.