KUALA LUMPUR (Oct 15): PublicInvest Research said HIL Industries Bhd is showing initial signs of recovery from its consolidation phase.

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 55 sen be broken, it may continue to lift price higher to subsequent resistance level of 58 sen.

“However, failure to hold on to support level of 51 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.