Nott Invest
HARBOUR - Game Over?
Nott_Invest
Publish date: Mon, 19 Jul 2021, 10:47 AM
Sector: Transportation and Logistic
HARBOUR has been bearish this week and drop below its previous support at RM1.010 on Monday. There was an attempt to climb back to RM1.010 on Thursday but unfortunately let down by the huge selling pressure after the record high covid cases reported in Malaysia.
HARBOUR is currently trading at its immediate support of RM0.965, and immediate resistance at RM1.010. Both EMA25 and EMA50 are trending downwards, which indicate that HARBOUR is turning weak in short term. As the international freight rate still remain at the high side, value investor may take this opportunity to collect this counter. However, it is strongly advised to set TIGHT CUT LOSS as Technical Analysis suggest that HARBOUR is currently weak.
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This content by NOTT INVEST, is in no way a solicitation or offer to buy or sell securities or investment advisory services.
Readers should always seek the advice of an appropriately qualified professional and perform due diligence before making any investment decisions.
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