Hong Leong Bank’s rally should continue after it closed above RM13.50 for two days running. A position can be initiated above the level with a close below the recent low of RM13.00 as a stop-loss. The price target is RM16.00, with selling also expected at RM15.00. Failure to hold above RM13.50 may encourage sellers and strong support is at RM12.50.
Source: OSK
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