Wednesday, January 11, 2012

Hapseng may commence on its next upleg

Hapseng is starting on its next upleg. The stock broke above its intermediate downtrend line in October. Thereafter, it consolidated in a saucer formation for the past 2 months. Today, it broke above the saucer formation at RM1.62. With this breakout, Hapseng is now a good trading BUY as well as being a good medium-term investment.

Chart: Hapseng's daily chart as at Jan 11, 2012_9.55am (Source: quickcharts)

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