Highlights / Stock Picks of the Day - TH Heavy Engineering Berhad ("THHeavy")

THHeavy has had a fantastic run since April this year, almost doubling from the low of 32 sen to 61 sen in early September. The share price has since corrected 16% to 48.5 sen on Tuesday. From a  technical
perspective, THHeavy formed an "Inside Day" candlestick on Tuesday, which signalled indecision here as neither the bulls nor the bears was able to send the price beyond the range of the previous day. The candlestick pattern points towards a possible bullish shift in  trend, particularly with the share price currently located at the upward sloping trend line support. Nevertheless, confirmation of the reversal is required via an advance above the 50 sen mark and should this level be taken out, THHeavy would be well positioned to resume its uptrend.

Source: Kenanga