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Our research team commented that from a technical point of view, they believe HEGROUP may trend higher after it broke out from the downward channel pattern few sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term.
Fundamentally, they believe HEGROUP may benefit from Microsoft's USD2.2bn investment in Malaysia. As one of the Mechanical and Electrical players, HEGROUP