HLT Global rebounded and tested the RM0.51 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 RM0.535 and RM0.565. The downside support is projected at RM0.455. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.51

Target: RM0.535, RM0.565 (time frame: 2-4 weeks)

Exit: RM0.455
 

Source: AmInvest Research - 18 Nov 2021