Hartalega Holdings has been undergoing a minor sideways consolidation below the MYR5.30 resistance level over the recent sessions. The 30-day SMA line, which started to edge higher, also signalled an encouraging technical picture. A positive bias may emerge above this point, as it could signal the extension of its recent weeks’ rebound. Following resistance levels are expected to emerge at MYR5.50, followed by MYR5.70. A stop-loss can be placed below MYR5.05.

Source: RHB Securities Research - 23 May 2019