UOB Kay Hian Research Articles
Traders' Corner - Heng Huat Resources Group (HHR MK)
UOBKayHian
Publish date: Wed, 09 Aug 2017, 02:38 PM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY on breakout with +30.2% potential return
- Last price: RM0.255
- Target price: RM0.31, RM0.345
- Support: RM0.22
- Stop-loss: RM0.215
BUY on breakout with a target price of RM0.345 and stop-loss at RM0.215. Based on the daily chart, HHR managed to climb from the low of RM0.215 to offset the recent drop from the previous high of RM0.35. If the share price manages to break above RM0.265, we expect the share price will continue its bullish momentum towards our targets at RM0.31 and RM0.345 in the near term. This bullish signal is supported by the MACD and DMI which are currently on a positive bullish crossover.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 9 Aug 2017
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