Hume Cement Industries is poised for an uptrend continuation, as it climbed higher amid the rising 21-day SMA line, heading towards the MYR2 threshold yesterday and forming a “Bullish Marubozu” candlestick.
RHB Retail Research Market Dateline said today (Nov 29) that if a breakout above that threshold occurs, the stock may trend upward towards the MYR2.20 resistance, followed by the next resistance at the MYR2.50 mark.
Towards the downside, dropping below the MYR1.85 support would reverse the trend, trading below the SMA line.
HLT Global is set to rebound higher, having strongly bounced from the MYR0.18 previous breakout, supported by strong volume.
The bullish momentum is set to propel the stock towards the recent high at MYR0.195, then the MYR0.215 resistance.
A fall below the MYR0.16 support would negate the bullish setup.