Joshs Finance

Technical indicators are encouraging for HB Global, says JF Apex – The Edge Markets MY

KUALA LUMPUR (July 27): JF Apex Securities Bhd said HB Global Ltd gained 2.5 sen to 13.5 sen on Tuesday to break the 100-day moving average.

In a technical stock pick on Wednesday (July 27), the research house said Tuesday’s gain broke the downtrend from 39.5 sen in June 2021.

“Technical indicators are encouraging as the RSI (reading at 81) has entered the overbought zone, while the MACD is trending above its signal line in the positive region.

“For the downside, if price falls lower, the first stop loss levels stood at 11.6 sen, marked by its 76.4% Fibonacci Retracement level,” it said.

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