Bullish potential detected for HDN

15 Jun

Entry conditions:
(i) breach of the upper confines of the Darvas box formation for HDN
- i.e.: above high of $1.31 of 9th May (most conservative entry), and
(ii) swing up of indicators such as DMI/RSI along with a test of prior level of resistance of $1.31 from 31st October 2022.

Stop loss for the trade (based upon the Darvas box formation) would be:
(i) below the support level from the low of 15th May (i.e.: below $1.24).

21 Jun

Dagangan aktif

UPDATE (week ending 20-Jun): Trade activated 17th June and closed above both 10 and 30 day MA's at the end of the trading week. With newer highs formed during this week, suggestion of the charts would be to raise stop to $1.275 ($0.04 above one tick beneath Darvas box formation) - this aligns well with one pip beneath the potential support/resistance from the open of 5th May ($1.28). For any trader/investor wishing to receive a dividend payment from HDN, the record date of the upcoming dividend is 27th June ($0.021 for payment on 22nd August).

28 Jun

Dagangan ditutup: hentian tercapai

UPDATE (week ending 27-Jun): As noted in last week's note, the dividend was collected on Friday, however the price action was not kind towards the stock and closed beneath the suggested stop from the Darvas box technique, so the charts suggest to close out the position for a scratch offset by the dividend. Coverage ceased.