Quick take: HeiTech Padu shares down on profit-taking

KUALA LUMPUR: Shares in Heitech Padu Bhd trend lower in early trade Tuesday as investors take profit after recent gains.

The IT service management company fell two sen, or 1.68% to RM1.17 at 9.24am. The counter has fallen 4.03%, so far this year.

Rakuten Trade Sdn Bhd said HeiTech broke out above its upper Bollinger Band yesterday with a higher trading volume.

The research house also noticed a high trading volume at the last trading hour yesterday.

“With its high trading volatility, we expect high trading activities in HeiTech. Provided its share price maintains above its current level, the share price is poised to continue its upside momentum ahead,” it said.

“Resistance levels are identified at RM1.22 (R1) and RM1.39 (R2). On the flipside, support levels are pegged at RM1.13 (S1) and RM0.955 (S2),” Rakuten said.

For the financial year ended Dec 31, 2021, HeiTech posted a net loss of RM15.34mil on a revenue of RM269.5mil.