Kenanga Research & Investment
Highlights / Stock Picks of the Day - Hai-O Enterprise Berhad ("HAIO”) – Not Rated
HAIO ended at RM2.65 and is currently undergoing a mild correction phase after marking a recent high @RM2.77 (29 action may narrow further towards the apex of the triangle. An anticipated upside breakout is likely from there given the prior uptrend. This should pave the way for further gains towards RM2.90. Hence, we suggest that traders watch for a decisive breakout signal (Pennant triangle breakout) in the coming days. Meanwhile, immediate downside support is likely to be located at RM2.58.
Source: Kenanga
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