Hapseng broke above its medium-term downtrend line at RM1.40 today. From Chart 1, you can see that the indicators are slowly turning upward, which is supportive of an upside move for the stock.
Chart 1: Hapseng's daily chart as at October 14, 2011_12.15pm (Source: Quickcharts)
From Chart 2 below, we can see that Hapseng has recently tested its strong horizontal support at RM1.25.
Chart 2: Hapseng's month chart as at October 3, 2011_plotted on log scale (Source: Quickcharts)
Based on the technical breakout as noted above, I believe Hapseng could be a good trading BUY or even a good stock for long-term investment.
4 comments:
Hi Alex
Huayang has announce its bonus 1 for 3, ex on 25 Oct. Huayang share has response positively, up as high as 12sen to 1.62. Is huayang value already fully reflected at current share price? Anymore upside potential?
Nice day, Alex!
I am still searching some high DY stocks. And recently Uchitec dropped from 1.35 to 1.10, but now rebound to around 1.21..is that a sign of uptrend? or it still in bearish sign？
Thanks..
Hi Alex,
Is RM 1.48-RM1.50 is wroth buying? What is the TP for this stock?
Thanks!
Hi Alex
I also think hapseng looks like a good trade. How about malton? Do you think it has legs to test the previous high?
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