KUALA LUMPUR (Aug 13): PublicInvest Research said Opening up a new uptrend channel, Heng Huat Resources Group Bhd is riding on its current uptrend.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of 20 sen be broken, it may continue to lift price higher to subsequent resistance level of 21.5 sen.

“However, failure to hold on to support level of 15.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.