HARTA (5168) - HARTALEGA – Buying Interest Signal
HARTA Stock Code: 5168
HARTA.
The rubber glove sector is in the limelight as of recent, seeing
players such as TOPGLOV notching a gain of 14.0 sen (+3.0%) yesterday on
strong trading volume. HARTA also received some spill-over attention,
breaking out from its multi-month resistance turned-support level of
RM4.50 (S1) on high trading volume. MACD histogram is also displaying
its bullish convergence away from its zero-line on the back of positive
climb seen by the RSI, indicating that buying interest is returning to
the stock. With the main hurdle (RM4.50 resistance) surpassed, the stock
could set sight on a gradual climb towards RM4.70 (R1) and possibly
RM4.98 (R2) further. Immediate downside support is seen at RM4.50 (S1)
and RM4.23 (S2) next.
source: Kenanga Research 06/09/2016
