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.”

Details of the news here

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

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