HSS Engineers is one of the construction Companies that is involved in the newly revised ECRL project, overseeing the Designing & Engineering aspect. The stock has been on an Uptrend since early of this year. Based on analysis at the following Pointer:
A) Price was moving within a Trading Range with very low vol.
B) Price enters Mark-Up stage (S2) and move within the Uptrend range. We can see as of 12/4, price did a pullback with the closing within the Uptrend range.
At present, price is facing strong resistance at RM1.29. It did a pullback on 12/4. There are three (3) possible scenario for this stock:
a) In order for price to move up further, it needs to have either a strong SOS (i.e. Spring or Line Change) with high vol.
b) Price may trade within RM1.15 - RM1.29 (taking a short rest) before moving up. During this time, vol. is crucial.
c) If price break below Trading Range level at RM1.15 with high vol., we consider there is no interest to push price further, hence beginning of Mark-Down phase (S4).
Read my earlier comment on HSS Engineers by clicking on the link below (Bahasa Malaysia version).