THHEAVY broke out from a downward-sloping channel last week. Looking at the chart, the share price bounced up from its underlying support channel and gradually inching higher to RM0.885 yesterday. Furthermore, key indicators such as Stochastic and CCI are also biased towards the upside, although trading volume seems slightly thin at this juncture. As such, traders may look to buy near the RM0.880 (20-day SMA) range and target to sell at RM0.965 (recent high) should the share price upswing coincide with rising volume. On the flip side, an immediate downside support is seen at RM0.835.

 

Source: Kenanga