$JSEHLM - HULAMIN - No Buyout, Will Bulls Re-emerge?
Take a look at the fundamentals before diving into this one on technicals.
Recent developments include:
1) potential major buyer/investor pulls out of the deal which led to the big share price crash.
2) Interim results showed good growth on HEPS, Revenue and Operating Profit.
3) CEO to retire at the end of September 2022.
Technically, a long-term bottom seems to be in place at 85 zac.
The rise to 545 zac appears to be a five wave impulse (1) to (5) for a higher degree wave I.
As long as the current correction trades above 85 zac, i will maintain a bullish stance and label the correction as wave II in anticipation for wave III which tends to be the strongest wave in a five wave sequence.
There is not enough evidence that a bottom is in yet but 205 zac is the key level to monitor in the short-term.
Recent developments include:
1) potential major buyer/investor pulls out of the deal which led to the big share price crash.
2) Interim results showed good growth on HEPS, Revenue and Operating Profit.
3) CEO to retire at the end of September 2022.
Technically, a long-term bottom seems to be in place at 85 zac.
The rise to 545 zac appears to be a five wave impulse (1) to (5) for a higher degree wave I.
As long as the current correction trades above 85 zac, i will maintain a bullish stance and label the correction as wave II in anticipation for wave III which tends to be the strongest wave in a five wave sequence.
There is not enough evidence that a bottom is in yet but 205 zac is the key level to monitor in the short-term.
