HE Group may rise higher after it formed a long white candle and hit a new all-time high yesterday. The stock’s move above the RM0.55 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM0.55 level with stop-loss set at RM0.50, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.65, followed by RM0.70.
Entry : RM0.55–0.57
Target : RM0.65, RM0.70
Exit : RM0.50
Source: AmInvest Research - 9 May 2024
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Created by AmInvest | Nov 21, 2024