Hartalega rises 2.94% on positive technical outlook

Hartalega rises 2.94% on positive technical outlook
-A +A

KUALA LUMPUR (Nov 26): Shares in Hartalega Holdings Bhd rose 2.94% in early trade Friday following a positive technical outlook on the stock.

At 9.36am, Hartalega rose 15 sen to RM5.28, valuing it at RM18.10 billion.

RHB Retail Research said Hartalega Holdings Bhd is attempting to stage a technical rebound.

In a trading stocks note Nov 26, the research house said the trading volume has been decreasing, which suggest that selling pressure is tapering down.

“If the stock climbs above the immediate resistance of RM5.20, a bullish bias could emerge. It may climb higher towards the next resistance of RM5.40, followed by RM5.60.

“Meanwhile, breaching below the RM4.97 support may see the correction resuming,” it said.