Hong Leong Asia Stock Code H22.SGX
After reaching a high of $1.06 on 29 April, price has been in a consolidation but had stayed above the cloud, keeping the uptrend intact. The consolidation is also building a possible Ascending Triangle chart pattern, with a price target of $1.175. Conversion and Base lines had a bullish crossover earlier, hinting of the bullish trend. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains bullish and a bullish crossover is likely. We are expecting price to break the previous high of $1.06 on its way to $1.17 in the next 2-3 weeks.
$1.17 Price Target
$0.92 Risk Management Stop
3 weeks Trade Duration