HOHUP attract investors’ interest after the news of its joint venture with Malton Bhd to co-develop “Pavilion 2”, Bukit Jalil recently. Yesterday, HOHUP share price gapped up (+5.3%) and settled at RM1.40 which is above all SMAs (20-, 50- and 100-). MACD indicator has performed a positive crossover with its Signal line, coupled with Stochastics and RSI are both turning positive, herald a bullish uptrend is underway. All signals indicate the bullish bias, thus, we are issuing “Trading Buy” call on HOHUP with target price of RM1.72, while a protective stop-loss of RM1.27 should be placed.

 

 

Source: Kenanga