News on 4-Sep-2024, 644pm
The Edge reported that “IHH Healthcare Bhd, Malaysia’s biggest hospital operator, said on Wednesday that it is acquiring 600-bed Island Hospital in Penang for RM3.92 billion in cash from Comprehensive Care Sdn Bhd.”
Volume:
The volume appears consistent with the price movement, which supports the uptrend.
Moving Averages:
The price is above the 50-day, 150-day, and 200-day moving averages (MAs). This is a bullish sign, indicating an uptrend.
The 20-day MA is also acting as support, which further strengthens the bullish outlook.
Bollinger Bands:
The price is near the upper Bollinger Band, which may suggest that the stock is in a strong uptrend but could be slightly overbought in the short term. However, staying close to the upper band is often seen in strong trends.
MACD:
The MACD line is above the signal line, although the histogram shows a small gap. This is generally bullish but indicates momentum could be slowing down slightly.
Support and Resistance
Resistance 1: RM6.70
Resistance 2: RM7.00
Support 1: RM6.30
Support 2: RM6.15
Enjoyed this analysis? Get exclusive insights and in-depth stock picks by subscribing to my Substack! Don't miss out on market trends—join today for more detailed breakdowns straight to your inbox! Click on the link below to read my articles in Substack.
Unveiling Market Gems: Your Guide to Beating the Market (substack.com)
MRCB: Bouncing Back - Can It Sustain The Recent Momentum? (substack.com)
MALAKOF: Uptrend Continuation With Potential MACD Crossover? (substack.com)
MAGNI-Tech on the rise, is a Major Breakout Brewing? (substack.com)
Created by KingKKK | Sep 02, 2024
Created by KingKKK | Aug 31, 2024