It seems like DRB is “pushing through the supply” on Friday. After days of going sideway, it finally broke out the resistance with good volume.

Due to the political atmosphere now, this presents a very short term opportunity. Buy now and put your STOP LOSS @ RM0.95. Profit objective could be set at RM1.35. But remember, this could only be a short term trade. Probably for a day or two unless there’s more strength shown on today’s trading (more Wide Range Bar with high volume).

Stock Background:
DRB-HICOM (Code: 1619) Berhad is Malaysia’s single largest totally integrated automotive company, with operations in the manufacturing, assembly and distribution of passenger and commercial vehicles. Other businesses that DRB-HICOM is involve in are Property and Infrastructure Development, and Services. e.g. DRB-HICOM assembles foreign cars from Honda, Mercedes-Benz and Hyundai in Malaysia.

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