Monday, August 05, 2013

Hohup may revisit the high recorded in 2010

There has been a fair bit of news regarding Hohup over the past few weeks. The news revolves around its development in Bukit Jalil where a piece of 50 acres will be jointly-developed with Malton into the Pavilion  2. In addition, it still has another 10 acres next oor which Hohup will develop on its own.

Chartwise, Hohup has broken above its strong horizontal resistance at RM0.88-0.90 as well as the psychological level of RM1.00. If Hohup can stay above the RM1.00 level, it may rally to test its next resistance at RM1.50.

Based on technical consideration, Hohup could be a good trading BUY. Please exercise careful discretion in your trading activity given the present weak market sentiment.

Chart: Hohup's weekly chart as at August 5, 2013_4.00pm (Source: Quickcharts)

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, Hohup.

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