AmInvest Research Reports
Stock on Radar - Hume Cement Industries
AmInvest
Publish date: Thu, 22 Feb 2024, 09:58 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
We expect further upside for Hume Cement Industries after it gapped up and pushed above the RM3.00 resistance yesterday. The stock also posted 2 white candles in a row and hit its new multi-year high, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM2.90 level, with a stop-loss set at RM2.78, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM3.30, followed by RM3.50.
Entry : RM2.90–3.09
Target : RM3.30, RM3.50
Exit : RM2.78
Source: AmInvest Research - 22 Feb 2024
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