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Tuesday, September 25, 2012

HWGB subsidiaries made inroad to Japan (ext.Edge)

Price retreated to as low as 0.32 after peaked at 0.375 yesterday. Based on charts, price should be able to move higher after the adjustment as it is just at its initial stage of the reversal. Its immediate resistance remains at 0.375 which is the 100MA. Once price crosses over the 100MA and then the 200MA which is just a bid away, its next target will be 0.405. Support remains at 0.32. It is unlikely that price will slide to 0.285 again in light of the favorable business development. - Smartbiz

Latest News: Ho Wah Genting Bhd's (HWGB) subsidiary MyLED Opto Technology Sdn Bhd has secured two contracts valued at RM800mil to supply light emitting diodes (LED) to two Japanese companies. (STAR)

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