Thursday, September 19, 2013
Hapseng- the uptrend is about to accelerate??
Yesterday, Hapseng-wa broke above its horizontal resistance of RM0.54. Today, it gained 7.5 sen from RM0.555 to RM0.63. This put Hapseng-wa at an all-time high. See Chart 1.
Chart 1: Hapseng-Wa's daily chart as at September 18, 2013 (Source: Quickcharts)
Hapseng-wa's strong move came after the share had risen steadily over the past 4-5 months. That steady rise came after the sahre broke above the horizontal ressitance at RM1.65 in May (see Chart 2). In August, Hapseng broke above its all-time high of RM2.00 (see Chart 3).
Chart 2: Hapseng's daily chart as at September 18, 2013 (Source: Quickcharts)
Chart 3: Hapseng's weekly chart as at September 18, 2013 (Source: Quickcharts)
The strong move in Hapseng-wa could signal an acceleration in the rise for Hapseng. Something significant is coming for the stock.
Based on the above, Hapseng could be a good trading BUY.
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, Hapseng.