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Hock Lian Seng seems to be forming steps with the rising 20dMA pushing up the price at every step. The rising 20dMA would be at 30c soon. A support seems to have formed at 30c for this construction stock. Further upside would give a target of 32c.
While the OBV shows constant accumulation, the MFI shows lower highs forming. So, accumulation is taking place amid lowering demand. Not a powerful statement. A slow grind up is perhaps what we would see for this counter.
Related post:
Hock Lian Seng: Resistance broken.
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4 comments:
If you don't mind sharing, what price did you get for Hock Lian Seng. Thks
Hi Anonymous,
My average price is 27.5c.
Could you include your name or intitials in future comments? Thanks. :)
Thks. There is a write up on HLS in Edge 27 Sep.
jo
Hi jo,
I forgot to renew my subscription to The EDGE. :(
Would you like to share some salient points from the article here? Thanks. :)
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