bursalesion

Testing Critical Support Zone – HB Global (5187)

lesion63
Publish date: Thu, 26 Dec 2024, 08:08 PM

Support: RM0.085

Resistance: RM0.100 

HBGLOB appears to be consolidating near its key support level of RM0.085, which has historically acted as a strong base for rebounds. 

Despite the recent pullback to RM0.085, the stock is showing signs of stabilisation, with tight Bollinger Bands indicating a potential breakout opportunity. The key support level remains intact, suggesting that downside risk is limited at this stage.

The RSI is hovering near 39, reflecting mild bearish momentum, but not oversold territory, which could pave the way for a recovery if buying interest emerges. Volume remains relatively muted, but this could signal a period of accumulation before the next upward move. A rebound from this level could see HBGLOB challenge the resistance near the 10 sen mark, particularly if accompanied by increased trading activity.

Overall, with the key support firmly in place and signs of consolidation, HBGLOB appears poised for a potential recovery, making this an interesting level to monitor for bullish opportunities.


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