Thursday, December 29, 2011

Technical Analysis Dec 2011: HAPSENG (3034)


HAP SENG CONSOLIDATED BERHAD

Observation from Chart:-

HAPSENG is forming ascending triangle.

Will it break through RM1.60 strong resistance?

Other indicator:-
1. NO reversal candlestick have been formed.
2. MACD at positive region, uptrend itinerary.
3. Stochastic %K trigger SELL call, pending confirmation.

If market sentiment positive, high probably HAPSENG will break through RM1.60 resistance, which we may confirm another wave of uptrend. (higher low & higher high)
On the other hand (if retrace down), it might retest lower triangle line, around MA50 level.

Let watch closely.

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