Heng Huat Resources Group (0175) Heng Huat Resources Group rose and tested the RM0.69 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.73 and RM0.755. The downside support is projected at RM0.61. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.69

Target: RM0.73, RM0.755 (time frame: 2-4 weeks)

Exit: RM0.61
 

Source: AmInvest Research - 17 Nov 2021