RHB Retail Research
Technical Analysis - Ho Hup Construction
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Ho Hup Construction formed a long white candle last Friday, indicating that buying momentum could be strong. The upward momentum would likely continue, given that it has breached above the downtrend line drawn in the chart. A bullish bias may emerge above the MYR0.43 level, with an exit set below the MYR0.38 level. Towards the upside, the immediate resistance is at MYR0.50. This is followed by the MYR0.55 level.
Source: RHB Securities Research - 25 Jun 2018
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