Ready to rebound?Monthly chart of HEXIND showing price has been discounting/retracing until 50% Fibo after breaking to all new time high. What do you think when there is a sale 50% of a product? That means to attract buyers right? Sell volume looks has diminished and buyers could anytime come in. 0.460 is pivot area
0.020MYR
73.564MMYR
964.276MMYR
887.58M
About HEXTAR INDUSTRIES BERHAD
Sector
Industry
CEO
Benny Ang Sui Aik
Website
Headquarters
Klang
Employees (FY)
319
Founded
1983
ISIN
MYQ0161OO008
Hextar Industries Bhd. operates as an investment holding company, which engages in the distribution and supply of quarry industrial products. It operates through the following segments: Fertilizer, Equipment Rental, Heavy Equipment, and Investment Holding. The Fertilizer segment provides plant nutrients. The Heavy Equipment segment includes supplying and distributing machinery, spare parts, conveyor belts, and related products to quarry industry, as well as manufacturing, distributing, and supplying quarry crusher screens. The Equipment Rental segment refers to the trading of industrial products that include forklifts, industrial batteries, and its accessories, as well as the provision of rental for chillers, power generators, and tents The company was founded in 1983 and is headquartered in Klang, Malaysia.
Hexind wait for retracementHexind volume has been soften. This could be a potential to wait for a retracement at reverse fib 0.382 at price RM 0.465.
Expecting a long position from Support RM 0.43. Low risk trader can look for Entry around this price. High Risk from 0.465. Target price Rm 0.615.
Not a buy/sell call. Do your o
HEXIND VCP SetupHEXIND developed VCP with below contraction on the left:
C1: -21%
C2: -14%
C3: -5%
C4: -4%
On the right, price breakout with volume on 2 Sep. Correction occur to test new support on 12, 13, 14 Sep.
After correction, price and volume setup again with 6.5% RISK.
Let's see how it will develop.
A Divergence Signal!At the previous price, the candlestick pattern indicates an accumulative phase without continuous buying pressure and significate volume on the previous trade. With the recent trade, the candlestick closed above the MA20 line without being backed by volume where it's below the MA20 line.
The RSI i
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