RHB Retail Research: Hume Industries may rise higher

RHB Retail Research says Hume Industries Bhd may rise higher after it breached above the MYR1.20 threshold.

In a trading note, the research house says in view that the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment.

“An upbeat bias may emerge above the MYR1.20 level, with an exit set below the MYR1.10 mark.

“Towards the upside, the immediate resistance is at the MYR1.41 level, followed by the MYR1.54 threshold,” it says.

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