Hot Stock 3A gains 1.9% on positive outlook from HLIB Research
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Hot Stock 3A gains 1.9% on positive outlook from HLIB Research
- Hot Stock
[size=28]3A gains 1.9% on positive outlook from HLIB Research
By Surin Murugiah / theedgemarkets.com | February 18, 2016 : 9:26 AM MYTKUALA LUMPUR (Feb 18): Three-A Resources Bhd (3A) shares gained 1.9% this morning after Hong Leong IB Research said 3A was poised for a triangle breakout and that it likes 3A for its growth in the mid to long term will be underpinned by (i) steady underlying demand growth in the F&B industry amid its strong recession-proof products; (ii) growing export markets and product range; (iii) strong tie-up with Wilmar in China and (iv) higher economies of scale and production efficiency.
At 9.09am, 3A gained 2 sen to RM1.07 with 113,900 shares done.
In a note today, the research house said it sees share prices to break immediate resistance of RM1.09 to reach short to medium term upside targets of RM1.13-1.26 levels.
“Cut loss at 97 sen,” it said.
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