Hume Industries formed a long white candle, indicating that the momentum of buying could be strong. As the stock rose above the 21-day SMA line, this points to a positive sign. A bullish bias may emerge above the MYR0.75 level, with an exit set below the MYR0.66 threshold. Towards the upside, the immediate resistance is at MYR0.85. This is followed by the MYR0.935 level.
Source: RHB Securities Research - 3 May 2019
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Created by rhboskres | Aug 26, 2024