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  • Target Price: RM0.825, RM0.850
  • Last closing price: RM0.770
  • Potential return: 7.1%, 10.3%
  • Support: RM0.730
  • Stop Loss: RM0.705
Possible for further upside. HUMEIND is staging a potential breakout from its sideways channel. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.785 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.825 and RM0.850.
However, failure to hold on to support level of RM0.730 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 16 May 2019
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