Mar 27, 2014

HIL - Technical analysis

HIL Industries Bhd (stock code 8443)  RM0.63.

hil-chart-analysis above: HIL Daily Chart (click to enlarge)

We called a trading buy on HIL a month ago as the candle was breaking out of the uptrend channel  at  RM0.56  and  the  candles  made  a  decisive  breach  before  undergoing  a  brief consolidation  period.  Thereafter,  the  candles  resumed  its  strong  climb  over  the  past  few sessions to settle at RM0.63 yesterday.

Its core indicators are on the climb again and above their respective upper limit lines, while the MACD has crossed the trigger line on the upside. Collectively, the above positives are leaving the bullish outlook intact for now, but those wishing to take profit can do so as its price  has  gained.  Correspondingly,  those  wishing  to hold  can  still  do  so  as  its  technical indicators are still looking positive with resistance at RM0.665.

by Mercury Securities

The principal activities of the Company are investment holding and the manufacture and sale of industrial and domestic moulded plastic products. The principal activities of the subsidiary companies are investment holding, property management and holding; and manufacture of and sale of industrial and domestic moulded plastic products; and sub-assembly of plastic-related products.