AmInvest Research Reports

Stocks on Radar - Heng Huat Resources Group (0175)

AmInvest
Publish date: Wed, 15 Dec 2021, 09:31 AM
AmInvest
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Heng Huat Resources Group rose and touched the RM0.78 resistance level. With its 21-day moving average in an uptrend, coupled with a sustainable 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 RM0.805 and RM0.825. The downside support is projected at RM0.735. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.78

Target: RM0.805, RM0.825 (time frame: 2-4 weeks)

Exit: RM0.735
 

Source: AmInvest Research - 15 Dec 2021

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