KUALA LUMPUR (March 1): RHB Retail Research said Hextar Industries Bhd is set to propel towards the all-time high after breaching the immediate resistance of 29 sen on Monday on the back of strong volume — a “higher high” bullish pattern was then observed.
In a trading stocks note on Tuesday (March 1), the research house said the latest “White Marubozu” or strong bullish candlestick indicates that follow-through bullish momentum is likely to occur.
“Hence, the stock is expected to reclaim the all-time high of 32.5 sen before printing a new high of 35 sen.
“Conversely, falling below the immediate support of 25 sen may trigger the resumption of a downward correction, printing a 'lower low' bearish pattern,” it said.