HLInd: A Strong Rally

HLInd broke above its ascending triangle (ABC) at RM5.00 and flew to RM5.30 as at 4:30pm. All in one day. Its next resistance levels are RM5.40, RM5.70 & RM6.00.

The strong rally on a Friday suggests something "big" is about to be announced. Since it has gone up so much, it is hard to recommend a BUY on this stock. You may consider it if the stock corrects back on weakness towards RM5.00.

 
Chart 1: HLInd's daily chart as at July 30, 2015 (Powered by Tradesignum)

 
Chart 2; HLInd's weekly chart as at July 30, 2015 (Powered by Tradesignum)
Note: 
I used the chart from Tradesignum because it most accurately captured the adjustment in price after the spin-off of Narra Industries.

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, HLInd