We believe the buying interest for Hume Cement Industries is back after it pushed out from the 7-week bullish rectangle pattern a few sessions ago. As the 20-day and 50-day EMAs have established a bullish crossover since early May, additional upside strength may be present in the near term. A bullish bias may emerge above the RM3.50 level with stop-loss set at RM3.16, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.00, followed by RM4.20.

Entry : RM3.50–3.60

Target : RM4.00, RM4.20

Exit : RM3.16

Source: AmInvest Research - 4 Jul 2024