Cup & Handle Build-up. How will it goes for Hiap Teck?
I've been following this stock for a while since its significant rally. From my analysis, the cup&handle pattern is currently near its completion at 90%.
There are few reasons for me in publishing this idea.
First, the sector for this company is steel and metal which are currently uptrending in KLSE. It's good choice for an investor to make a long term investment and a trader to make a short term profit. A counter which attractive to both groups are a good sign for its liquidity.
Second, the background statistics of its financial which consist of its profits and revenue QoQ and YoY shows that it's strong enough and inevitably attracting many investors and traders who looking for some profits.
Thirdly, this stock in a positive side of many indicators. As example, the trend currently above MA50/MA100/MA200 indicates that its generally uptrending. The other indicator is MACD. Even though it's crossed down, note that it's above 0. Shows that weak sell, retracement and probably will rebound in few days. Last indicator supporting this idea is its RSI. Currently at 51.93 which means it's in neutral area and it have more rooms for drastic growth and rally to higher price.
As conclusion, this idea is based on my observation, knowledge and analysis. It's a prediction by considering a few factors from its fundamental and technical informations. There are no 100% success rate for every pattern even a pattern of a breakout new time high. However, an investor and a trader which have vast knowledge can manage their movement to maximize profits and minimize risk.
Disclaimer: This is not a suggestion for purchase and buy actions. Trade and invest on your own risk. This only a shared idea and knowledge at the best platforms. Thank you
There are few reasons for me in publishing this idea.
First, the sector for this company is steel and metal which are currently uptrending in KLSE. It's good choice for an investor to make a long term investment and a trader to make a short term profit. A counter which attractive to both groups are a good sign for its liquidity.
Second, the background statistics of its financial which consist of its profits and revenue QoQ and YoY shows that it's strong enough and inevitably attracting many investors and traders who looking for some profits.
Thirdly, this stock in a positive side of many indicators. As example, the trend currently above MA50/MA100/MA200 indicates that its generally uptrending. The other indicator is MACD. Even though it's crossed down, note that it's above 0. Shows that weak sell, retracement and probably will rebound in few days. Last indicator supporting this idea is its RSI. Currently at 51.93 which means it's in neutral area and it have more rooms for drastic growth and rally to higher price.
As conclusion, this idea is based on my observation, knowledge and analysis. It's a prediction by considering a few factors from its fundamental and technical informations. There are no 100% success rate for every pattern even a pattern of a breakout new time high. However, an investor and a trader which have vast knowledge can manage their movement to maximize profits and minimize risk.
Disclaimer: This is not a suggestion for purchase and buy actions. Trade and invest on your own risk. This only a shared idea and knowledge at the best platforms. Thank you
