Benalec Holdings Bhd (stock code 5190) RM1.26 Construction Sector.
The share price is recovering after a prolonged consolidation and it had also broken through the previous overhead resistance line. At the same time, the share price had also penetrated the key moving averages, but currently undergoing amild pullback. Current resistance is at RM1.30 and if this level is broken, the next targetis RM1.40. Its technical indicators are also rising in tandem with the short-term moving averages. Overall, the technical outlook is positive for Benalec to test higher levels over the mediumterm. A Trading Buy on Benalec is recommended as it is embarking on an uptrend.
by Mercury Securities
Benalec Holdings Berhad is principally involved in providing marine construction services and vessel chartering, marine transportation and related services.