Tuesday, December 14, 2010

Li-Heng Chemical

Li-Heng Chemical: Stock in Top Volume today. CIMB has Techniacl Buy Call. Note that stock broke out of its bullish wedge pattern back in Sept and the recent pullback appears to be in a form of a bullish flag pattern. Prices broke out of this bullish flag pattern yesterday on rising volume…..

Technical landscape is now positive with its MACD now moving back into positive territory. RSI is also on a rising trend. A breakout above the recent high of $0.23 could see prices climb higher to try to close the gap at $0.26-0.27. The next resistance is at $0.295. Tip stop loss at $0.195.

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