Leong Hup International (LHI | 6633)
Last Price: RM0.70 | Technical Call: BUY
Support 1: RM0.68 | Resistance 1: RM0.80 |
Support 2: RM0.64 | Resistance 2: RM0.85 |
Shariah Compliant: No | Sector: 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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