Hi Folks. Do the best you can.
M+ Online Technical Focus - 7 Dec 22
EP Manufacturing Bhd: Transforming into a sustainable automotive player
Trading Catalyst• Manufactures a wide range of products such as engineering plastic components, metal stamping parts and/or modular assemblies for both domestic and international automotive OEMs.• Obtained a license from the Ministry of International Trade and Industry to assemble and manufacture two-wheeled electric vehicles at its upcoming facility in Glenmarie, Shah Alam that is expected to be completed in 3Q23.• Recently entered into a Memorandum of Agreement with California’s Saean Group Inc to mass produce 20,000 electric cars a year for the South-East Asian market.• Technically, traders may anticipate for a potential breakout above RM1.13 to target the next resistances at RM1.18-1.23 with long term target at RM1.35.
Technical View
(i) EPMB (S: RM1.05, R: RM1.18-1.23, LT TP: RM1.35, CL: RM1.04)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Source: Bloomberg, M+ Online
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