Rakuten Trade Research Reports

Technical View - HSS Engineers Berhad

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Publish date: Mon, 06 Aug 2018, 11:20 AM
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HSS Engineers 

HSS's share price has risen RM0.105 or 14% over the last two days to close at RM0.85 breaking out from its recent low.

The stock has bottomed out from the downtrend post GEl 4 as we believe the sell down is overdone. HSS's share price just broke the resistance of RM0.80, thus reinforcing the bullishness in the price movement. Coupled with higher than average traded volume, we expect greater upward momentum hence giving higher probability of the next successful breakout.

As such, we expect follow-through buying towards RM1.019 (R1) and further to RM1.055 (R2).

Meanwhile, support can be found at RM0.72 (S1) while S2 can be seen at RM0.71. 

Source: Rakuten Research - 6 Aug 2018

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