IHH Healthcare more upside to come after strong bullish break

Key obstacle conquered. IHH Healthcare is poised to see further recovery after initiating a strong bullish break out of its 5-month horizontal trading range and above its $1.32 key resistance to a new all-time high on significant volume in the last session.

Indicator is bullish. The MACD is climbing steadily at the moment; this suggests that the upside momentum is building up.

Next resistance at $1.40. The counter is likely to head higher towards the next key obstacle at $1.40 (key psychological obstacle) in the weeks ahead.

Immediate support at $1.32. Meanwhile, we advocate a stop-loss exit around $1.29, which is slightly below the newly established resistance-turned-support of $1.32.