Date of Report

October 28, 2024

Broker Name

CGS International

Company Overview

Harbour-Link Group Berhad is an investment holding company that provides management services. The Company, through its subsidiaries, offers shipping, forwarding, and transportation services. Additionally, Harbour-Link operates a plant and machinery renting business and provides engineering and civil works services.

Stock Performance

• Last Price: RM1.55
• Entry Price: RM1.50 – RM1.55
• Stop Loss: RM1.44
• Support Levels:
  • Support 1: RM1.45
  • Support 2: RM1.41
• Resistance Levels:
  • Resistance 1: RM1.60
  • Resistance 2: RM1.69
• Targets: RM1.60, RM1.69

Technical Analysis

The stock has been building a triangle above the 200-day Exponential Moving Average (EMA) over the last couple of months. On the report date, the stock’s price lifted to a new three-month high, breaking out of the consolidation triangle, supported by rising trading volume.

Momentum Indicators

Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) have shown strengthening, indicating that buying momentum is gradually increasing.

Investment Recommendation

Aggressive traders may consider going long on this stock, either at the current price or on weakness, with a stop-loss set at RM1.44 (a tick below the last swing low). The stock is expected to push towards historical resistances at RM1.60 and RM1.69.