UOB Kay Hian has technical buy on Leong Hup

UOB Kay Hian retail research has a buy on Leong Hup International with a target price of 88 sen and stop-loss at 66.5 sen.

KUALA LUMPUR: UOB Kay Hian Malaysia retail research has a technical buy on Leong Hup International (LHI) with +20.5% potential return.

It said on Wednesday the target price is 88 sen while stop-loss is at 66.5 sen.

It said chart-wise, LHI formed a series of higher highs and higher lows that indicates an uptrend pattern.

“The successful close above the BBI line yesterday suggests improving sentiment as LHI looks set to resume the upward trend. This is supported by an uptick in the RSI.

“Currently, both the MACD and the DMI are showing positive signals, which will support the upward momentum.

“We peg our targets at 82.5 sen and 88 sen in the near term. Expected timeframe: two weeks to two months, ” it said.

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