HPP is showing a bullish setup after breaking past the consolidation zone. The counter has jumped above the MYR0.37 resistance on the heel of high volume. The 21-day SMA line is rising upwards, echoing short-term trend is bullish. Post breakout, expect a follow-through price action to test the next resistances at MYR0.395 and MYR0.42. A breach below the MYR0.345 support would resume the correction phase.
Source: RHB Securities Research - 12 Jul 2024
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Created by rhbinvest | Dec 18, 2024