Hextar Retail Bhd (HEXRTL, 7202)

• HEXRTL may extend it upward trajectory after breaking out from its one-month rectangular patternand surged to a new 52-week high two sessions ago. Underpinned by the higher trading volume, pushing the stock further away from all the EMAs, this signals a continuation of the ongoing uptrend.

• We expect the rising momentum to steer the stock higher and test the next level of resistance ofRM0.77 (R1) followed by RM0.85 (R2) in the near term.

• On the downside, stop-loss is set at RM0.61.
  

Source: Rakuten Research - 24 Jun 2024

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