Thursday, January 10, 2013

Haio- the next upleg may have started

Haio has broken above its strong horizontal resistance line at RM2.30 on January 2. With this upside breakout, Haio is set for its next upleg. Based on technical consideration, this stock could be a good trading BUY. For more on Haio, go to my earlier post (here).


Chart: Haio's weekly chart as at Jan 10, 2013_3.00pm (Source: Quickcharts)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Haio.

2 comments:

vincent chua said...

Hi Alex,
Hapseng is not able to surpass recent high of 1.75. Do you think the game is over technically?

Alex Lu said...

hi vincent chua

Hapseng has a strong resistance at RM1.75-1.80. It is still in an uptrend. It may attempt the RM1.75-1.80 level again. This time, you may want to sell partially. That way, if it fails to break thru, your position will be reduced. If it does, you still have a dog in the race.