Quick take: GUH shares hit highest in over three years

KUALA LUMPUR: GUH Holdings Bhd is the second most actively traded counter with over 28.2 million shares done in early trade Tuesday.

The group gained 7.03%, or 4.5 sen to 68.5 sen, its highest since August 2018.

Rakuten Trade said GUH has broken out from its pennant pattern with high volume and seen higher lows since Sept 21.

“The share price is now trading above all key moving averages since Oct 11. Backed by upticks in its indicators, the share price is poised to move higher.

“Resistance levels are identified at 66.5 sen (R1) and 67.5 sen (R2),” it said.

On the flipside, Rakuten Trade said the support levels were pegged at 60 sen (S1) and 58.5 sen (S2).

In the first half ended June 30, GUH posted a net profit of RM4.8mil against a net loss of RM5.9mil a year ago. Its revenue for the period rose to RM127.9mil from RM109.79mil in the same period a year prior.

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