Yesterday, HLIND rose 34 sen (3.0%) to close at day’s high of RM11.56.
Share has been in an uptrend since start of the year, breaking through key SMAs which are currently in a “Golden Crossover” state.
Yesterday’s move marks as a breakout from previous resistance of RM11.32, in which was tested over the past few days.
From here, we expect follow-through momentum to bring the share towards overhead resistances of RM11.80 (R1) and RM12.11 (R2).
Conversely, a failure to do so could see share price testing supports at RM10.83 (S1) and RM10.53 (S2).
LCTITAN (Not Rated)
LCTITAN climbed 28.0 sen (5.07%) to close at RM5.80.
The share had been trading on higher than average volume over the past four days with strong buying interest shown by the string of white candlesticks.
Key technical indicators are in a bullish convergence with the uptrend.
Expect bullish momentum to continue towards the resistance level of RM5.94 (R1) and possibly RM6.36 (R2).
Conversely, any pullback towards RM5.50 (S1) would offer a good accumulation point while further pullback towards RM5.25 (S2) would be deemed as highly negative.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 7329 views | 6 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....