Hil Industries Bhd (8443)

• HIL closed 0.5 sen or 0.86% lower to RM0.575 last Friday.
• Technically speaking, HIL remains above the key moving averages, indicating it is still in the rebound stage. With the key momentum indicator showing an oversold signal, we believe the share price is likely to breakout from its consolidation phase.
• As such, resistance levels are expected at RM0.585 (R1) and further to RM0.635 (R2).
• On the flipside, support levels are seen at RM0.565 (S1) and RM0.540 (S2).

Source: Rakuten Research - 6 May 2019