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Technical Stock Pick - Xin Hwa Holdings Bhd
Technical Stock Pick - Xin Hwa Holdings Bhd
Closed: RM0.41
Resistance: (R1) 50 sen /(R2) 58 sen
Support: (S1) 39 sen /(S2) 29.5 sen
Xin Hwa Holdings Bhd (5267) rose 3 sen to 41 sen yesterday to breach the 200-day moving average (orange line).
Technical indicators are encouraging with the MACD rising above its signal line and the RSI has just entered the overbought zone.
After yesterday’s surge, the stock could pull back on profit taking but has a chance to extend its rebound if share price sustains above its immediate support of 39 sen marked the 200-day moving average (orange line).
For the downside, we advise traders to cut loss if the price falls below the second support of 33 sen, marked by the 100-day moving average (pink line).
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Ride The Bull Short The Bear
CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
