AUMAS - Positive corelation with GOLD price movement ?

AUMAS - Current price : RM0.890

AUMAS is bullish as the share price is above 50-day EMA. Note that the price breakout ICHIMOKU CLOUD on 31 JANUARY 2025 with high trading volume.

Gold future price surge to new high due to uncertainty and weak global sentiment. AUMAS is engages in gold mining business in Malaysia. The share price have a positive corelation with gold price movement. As such, i expect the share price may move higher in the upcoming session.

ENTRY PRICE : RM0.890
TARGET : RM0.980 (+10%)
STOP LOSS : RM0.820 (-7%)

Notes : The company was formerly known as Bahvest Resources Berhad and changed its name to AuMas Resources Berhad in December 2024. AuMas Resources Berhad was incorporated in 2004 and is headquartered in Tawau, Malaysia.