Hock Lian Seng: 32c target.

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.

FSL Trust: Rising from the depths.

It has been a while since I looked at FSL Trust. Today, it rose decisively.  Price action formed a wickless white candle, opening at 43.5c and closing at 45c. However, lacking in volume, one wonders if it would go on rising.

The rising 20dMA recently formed a golden cross with the 100dMA and this marks a strong support at 42c. Trading above the gap which was closed at 43.5c now brings the next resistance at 46c to play.  I see an eventual target as defined by the descending 200dMA, currently at 51c.

Related post:
FSL Trust: Where to from here?
FSL Trust: The skies are clearing up.