HaiO broke out from RM4.12 lately to spell more upside potential. HaiO reversed its uptrend after forming a “shooting star” candle in mid-Mar 2010. Selling pressure exaggerated further after it lost the RM4.40 key support level and the UTL in end-Apr. Coupled with a “dead cross” signal on the 10-day and 40-day SMAs, this sparked a steep sell off to RM3.26 low in end-May. Thereafter, a recovery leg kicked in, leading it back to above the 10-day and 40-day SMAs. Of late, it broke out from RM4.12 to spell more upside potential, before settling at RM4.21 on Friday with a
“doji” candle to mark uncertainties ahead.
Hai-O Enterprise Berhad : Upside To Be Blocked By RM4.40 and The UTL…-14/06/2010
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