Rakuten Trade Research Reports
Technical View- Hiap Teck Venture Bhd (5072)
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Publish date: Thu, 24 Dec 2020, 05:36 PM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Hiap Teck Venture Bhd (5072)
• HIAPTEK advanced 8.1% or 3.5 sen to RM0.465 yesterday.
• Yesterday saw its share price moved higher on the back of higher trading volume, indicating renewed buying interest. The resurgence came after taking a breather from its bullish uptrend.
• Share price is likely to resume its rally following news on anti-dumping duties on imported flat rolled steel products which have seen buying momentum in steel related stocks.
• As such, resistance levels are seen at RM0.500 (R1) and RM0.545 (R2) level.
• For the downside, support levels are expected at RM0.44 (S1) and RM0.37 (S2).
Source: Rakuten Research - 28 Dec 2020
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