Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Sunday, February 23rd, 2025

Leong Hup International Poised for Further Gains After Bullish Breakout

Date: September 18, 2024
Broker Name: CGS International Securities Malaysia Sdn. Bhd.


Company Overview

Leong Hup International Berhad is a poultry service provider that offers a variety of products and services, including breeding, egg production, broiler services, livestock feeding solutions, and the manufacture of chicken products. The company primarily serves customers across Asia.

Technical Analysis: Bullish Breakout

As of September 18, 2024, Leong Hup International has been marked as a “Technical Buy” with its last traded price at RM0.66. The stock broke out of a six-month-long triangle pattern, signaling a bullish breakout, and has closed at a three-week high, which indicates further potential for upward movement.

Entry Points and Support/Resistance Levels

The recommended entry price for Leong Hup International is between RM0.645 and RM0.66. Key technical levels to watch include:

  • Support 1: RM0.605
  • Support 2: RM0.565
  • Stop Loss: RM0.60
  • Resistance 1: RM0.70
  • Resistance 2: RM0.73

Target Prices

The stock is expected to climb further, with targets set at RM0.70 and RM0.73.

Technical Indicators

Leong Hup International has displayed a strong technical breakout, marked by a white bullish candle that has lifted prices away from all the key Exponential Moving Averages (EMAs). The breakout was supported by a higher trading volume and a rising pattern of higher lows from the RM0.50 level.

The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) have both hooked up again, signaling that bullish momentum is still in play.

Strategic Recommendations

Traders are advised to go long at current levels or wait for a slight dip, with a stop-loss set at RM0.60. On the upside, the stock is expected to test resistances at RM0.70 and RM0.73 in the near term.

Market Sentiment

Investor sentiment towards Leong Hup International is favorable, bolstered by the bullish technical signals and strong price action. The breakout from the long-standing triangle pattern suggests further upside potential in the coming days.

Conclusion

Leong Hup International’s recent bullish breakout, supported by technical indicators, presents a strong buying opportunity. Traders looking to capitalize on the ongoing upward momentum may consider entering at recommended levels, with clear targets and stop-losses in place.

Tomei Consolidated Holds Steady with Promising Upside Potential

Date of Report: October 2, 2024Broker: CGS International Company OverviewTomei Consolidated Berhad is a leading Malaysian company involved in the design, manufacture, and retail of jewelry. With a strong presence in Malaysia, Tomei has...

New World Development Co Ltd: Bullish Breakout Signals Strong Upside Potential

Date: October 3, 2024Broker: CGS International Company OverviewNew World Development Co Ltd (Stock code: 17) is a diversified conglomerate that develops and invests in properties through its subsidiaries. The company also provides contracting, property...

Investment Opportunities in Bermaz Auto, Malakoff, and Kerjaya Prospek

Overview: In today’s report, we focus on three promising Malaysian companies: Bermaz Auto (BAUTO), Malakoff Corporation, and Kerjaya Prospek Group. Each presents unique opportunities for investors based on their current financial performance, upcoming projects,...