Stock code: 5169
Stock name: Ho Hup Construction Company
Screener: 18LC for 29 Mar 2019
Observation date: 31 Mar 2019
Observation:
a) Price & Volume:
- Price: Mixed w/ wide spread mostly on upbar.
- Volume: High vol on upbar.
b) Market Stage:
- Price is still in Accumulation stage (S1).
c) Trend Line:
- Price is moving within a Trading Range since Mar'18.
- Before this, it tried to break Resistance Line (end Jul'18) but failed. This is due to alot of sellers (Supply) in the market as we can see from the ultra high vol.
- It then went down to the Support Line to 'washout' weak hand holders before moving back up into the Trading Range.
Remarks:
- We can see that there is still supply with the recent ultra high vol on 29 Mar'19.
- Price may make another attempt to wash and test supply before breaking the Resistance Line.
- In the meantime, traders can make quick profit can be made through short term trading (provided setup is good).
Stock name: Ho Hup Construction Company
Screener: 18LC for 29 Mar 2019
Observation date: 31 Mar 2019
Observation:
a) Price & Volume:
- Price: Mixed w/ wide spread mostly on upbar.
- Volume: High vol on upbar.
b) Market Stage:
- Price is still in Accumulation stage (S1).
c) Trend Line:
- Price is moving within a Trading Range since Mar'18.
- Before this, it tried to break Resistance Line (end Jul'18) but failed. This is due to alot of sellers (Supply) in the market as we can see from the ultra high vol.
- It then went down to the Support Line to 'washout' weak hand holders before moving back up into the Trading Range.
Remarks:
- We can see that there is still supply with the recent ultra high vol on 29 Mar'19.
- Price may make another attempt to wash and test supply before breaking the Resistance Line.
- In the meantime, traders can make quick profit can be made through short term trading (provided setup is good).