Sector: Steel

Analysed on 08/08/21

HIAPTEK seems to have found the support around RM0.475 to RM0.500, with the formation of double bottoms, followed by a higher low. It is also worth mentioning that the volatility of HIAPTEK has been reduced as compared to before. HIAPTEK is currently trading at RM0.540, with immediate support at RM0.510 and immediate resistance at RM0.580.

Note that EMA25 has begun to trend upwards, which indicates potential sign of reversal. Occurrence of golden cross (EMA25 moves above EMA50) will further confirm the reversal for HIAPTEK.

Reason to Monitor: Potential Sign of Reversal