AmInvest Research Reports
Stock on Radar - Lii Hen Industries
AmInvest
Publish date: Thu, 19 Oct 2023, 10:29 AM
AmInvest
0 8,766
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Lii Hen Industries may trend higher after it surged to a new 52-week high and closed above the RM0.875 resistance a few sessions ago. Given that the stock has broken out from a 6-week bullish ascending triangle formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.875 level, with stop-loss set at RM0.85, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.95, followed by RM1.00.
Entry : RM0.875–0.90
Target : RM0.95, RM1.00
Exit : RM0.85
Source: AmInvest Research - 19 Oct 2023
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