HARNLEN - momentum built upWe 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
