We expect further upside for Hume Cement Industries after it gapped up and pushed above the RM3.00 resistance yesterday. The stock also posted 2 white candles in a row and hit its new multi-year high, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM2.90 level, with a stop-loss set at RM2.78, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM3.30, followed by RM3.50.
Entry : RM2.90–3.09
Target : RM3.30, RM3.50
Exit : RM2.78
Source: AmInvest Research - 22 Feb 2024
Chart | Stock Name | Last | Change | Volume |
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Created by AmInvest | Aug 30, 2024
Created by AmInvest | Aug 30, 2024
Created by AmInvest | Aug 30, 2024
Created by AmInvest | Aug 30, 2024