Stock Code: 7192 GOODWAY INTEGRATED INDUSTRIES
GOODWAY rose 5.0 sen (8.7%) on Tuesday to a closing high of RM0.625. This signals a continuation of its uptrend after a brief pullback towards the trend-line and 20-day SMA combined supports last week. Trading volume has also proven to be consistent with a healthy uptrend these past two months, and Tuesday’s uptick is constructive for a higher move. From here, we expect the share price to retest the RM0.675 (R1) resistance fairly soon. Should a breakout occur, investors may then set their sights on RM0.79 (R2) further up. As for the downside, strong support is expected at RM0.56 (S1) although a break below would be highly negative.
source: Kenanga Research – 01/09/2016
GOODWAY INTEGRATED INDUSTRIES BERHAD
The Group is principally involved in the development manufacture and distribution of technical compounds tyre compounds and other rubber related products. The Group also provides retreading services.
