Friday, October 14, 2011

Hapseng may have a bullish breakout at RM1.40



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:

Anonymous said...

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?

cherng said...

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..

bo keong said...

Hi Alex,

Is RM 1.48-RM1.50 is wroth buying? What is the TP for this stock?

Thanks!

alwayswin111 said...

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?