Hi-P Chance for a Breakout

September 7th, 2010 § Leave a Comment

Hi-P 7th September 2010

Another low risk play, similar to YangZiJiang before its breakout.

1. Ascending triangle with very narrow trading range. Formed by resistance of 86 cents and uptrend line

2. Stochastic yet to hit overbought.

3. Volume low, sign of impending surge in volume

4. Company share buy back for past weeks (similar to Informatics and SingPost)

Keep stop slightly at 83.5 cents

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