the short term bad sentiment bashed all counters down to fire sale prices. harbour got aggresively bargain hunted up from the lows of 0.95 today. good sign of buyers in control
This counter has a few small sharks are waiting for lower price. Beta towards KLSE is quite high. Which is, it will drops onwards due to the KLSE downtrend.
Harbour link also hide with a big shark behind it. The price will be pressed until the an average of 0.900 - 0.890
Although the service is still working due to MCOs Malaysia, the sharks won't GAF...
Technical Tracker-Harbour (TRADING BUY) Harbour: Oversold rebound; Beneficiary of increasing freight rates The group is cautiously optimistic of its shipping and marine division underpinned by strong domestic consumer demands and the modest increase of freight rates. Interestingly, the world container index (Figure 1) had risen 106% YTD, which would potentially boost the group shipping and marine services division bottomline.
Technically, the stock is grossly oversold and building a sound base near RM0.85-0.895 level. Any weakness is a good opportunity to accumulate (RM0.85-0.895) supported by bottoming up indicators. A strong breakout above 0.95 resistance will spur prices higher towards the next upside objective at RM1.00-1.10.
If it's a healthy company, this stock will comes a small drop trend after these few days last bounce up. Once it drop to a "freeze spot/point", most probably the summer of Harbour Link might come up with the economic open of Malaysia.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
pharker
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Posted by pharker > 2021-06-23 01:17 | Report Abuse
https://www.timeslive.co.za/sunday-times-daily/world/2021-06-21-get-ready-for-years-of-chaos-in-the-ebb-and-flow-of-container-shipping/