HARNLEN - momentum built up
We observed cup and handle pattern in the stock at daily timeframe, giving a potential of +41% upside. It would be safe to enter after it breaks the 0.785 resistance.
EP 0.790
TP 0.945, 1.000, 1.05
SL 0.665
RRR 1:2.25
In weekly timeframe, MACD confirms a breakout bias, therefore we believe on breakout to happen next.
HARNLEN is a light stock with very little float (10% of 192M shares) compared to its competitor MHC (34% of 196M of shares). The sentiment of high palm oil price could have push the stock price further. With this sentiment continues, we could see bull movement of the stock.
TAYOR
EP 0.790
TP 0.945, 1.000, 1.05
SL 0.665
RRR 1:2.25
In weekly timeframe, MACD confirms a breakout bias, therefore we believe on breakout to happen next.
HARNLEN is a light stock with very little float (10% of 192M shares) compared to its competitor MHC (34% of 196M of shares). The sentiment of high palm oil price could have push the stock price further. With this sentiment continues, we could see bull movement of the stock.
TAYOR
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