GOODWAY (7192) - GOODWAY – Technical Highlight
Stock Code: 7192 GOODWAY INTEGRATED INDUSTRIES
GOODWAY
rose 5.0 sen (8.7%) on Tuesday to a closing high of RM0.625. This
signals a continuation of its uptrend after a brief pullback towards the
trend-line and 20-day SMA combined supports last week. Trading volume
has also proven to be consistent with a healthy uptrend these past two
months, and Tuesday’s uptick is constructive for a higher move. From
here, we expect the share price to retest the RM0.675 (R1) resistance
fairly soon. Should a breakout occur, investors may then set their
sights on RM0.79 (R2) further up. As for the downside, strong support is
expected at RM0.56 (S1) although a break below would be highly
negative.
source: Kenanga Research – 01/09/2016
GOODWAY INTEGRATED INDUSTRIES BERHAD
The
Group is principally involved in the development manufacture and
distribution of technical compounds tyre compounds and other rubber
related products. The Group also provides retreading services.
GOODWAY (7192) - GOODWAY – Technical Highlight
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