DRB-Hicom Bhd (1619-Industrial Products)
Chart wise - Buy on Breakout
above: click to enlarge
A speculation play at the moment, DRB-Hicom is currently hesitating after the long white candle formation. News-flow concerning a sale and purchase deal have been mixed with two sides taking shape. At the moment, the support is at RM1.10 followed by another support point at RM1.03.
The share price must be able to stay above RM1.03 for the trend to remain positive. So far, the buying support had kept the share price buoyant, but a breakout must occur soon to prevent it from falling into consolidation. Hence, it is a buy on breakout.
by : Mercury Securities
