AmInvest Research Reports

Stock on Radar - Leong Hup International (LHI)

AmInvest
Publish date: Tue, 01 Oct 2024, 09:32 AM
AmInvest
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Leong Hup International (LHI | 6633)

Last Price: RM0.70 | Technical Call: BUY

Technical chart: LHI

 

Support 1: RM0.68Resistance 1: RM0.80
Support 2: RM0.64Resistance 2: RM0.85
Shariah Compliant: NoSector: Consumer

Leong Hup International may trend higher after it broke above the RM0.68 resistance with a long positive candle a few sessions ago. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early September, the uptrend may persist in the near term. A bullish bias may emerge above the RM0.68 level with stop-loss set at RM0.63, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.80, followed by RM0.85.

Entry: RM0.68-0.70

Target: RM0.80, RM0.85

Exit: RM0.63

 

Source: AmInvest Research - 1 Oct 2024

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