Oct 10, 2012

THHEAVY - Watch for trading opportunity -

TH Heavy Engineering Bhd (7206) Trading/Services – RM0.485

above: THHeavy daily chart (click to enlarge)

Chart wise:
THHeavy’s candles have slipped further after breaching the long-term uptrend line two weeks. It also fell below the RM0.50 level and came near to the RM0.48 level. However, a rebound set in last Tuesday hauled its core indicators up from their respective lower limit lines.

As it is, the indicators are still showing strength and may push the candles above the RM0.50 leve;, which would then provide trading buy opportunities. Failure toclimb back above the RM0.50 level, however, leaves a neutral outlook. The support, meanwhile, is at RM0.44

by Mercury Securities