GD Express Carrier Bhd (Stock Code 0078) Technical BUY on breakout with +16.4% potential return
Last price : RM1.66 Target price : RM1.94, RM1.99
Support : RM1.59 Stop loss : RM1.58
BUY on breakout with a target price of RM1.99 and stop loss at below RM1.58. Yesterday, GDX penetrated the Ichimoku cloud and a buying signal is seen as the
stock is trading above the cloud. This is supported by the Heat Wave indicators -
the Tenkan-sen line, Kinjun-sen line and Chikao span line are bullish too. The positive reading from the MACD suggests the overall bullish bias is intact. Currently, the DMI shows buying momentum has overcome selling momentum. We peg our targets at RM1.94 and RM1.99 in medium term.
Expected Timeframe: 2 weeks to 3 months
by UOBKayHian
GD Express Carrier
The principal activities of GDEX Group are express delivery services and customised Logistics Solution. In view of the high growth of the customised Logistic Solutions services segment GDEX Group has repositioned itself and capitalised on the rising demand by offering a wide variety of highly customised express delivery and logistics services and supply chain solution which include logistics management warehousing packaging services and others.
