Wednesday, October 24, 2012

HPH Trust (technical)

HPH Trust: UOB Kay Hian has Technical Sell call with US$0.775 TP. House note that the stock is likely to retrace after the formation of the bearish engulfing candlestick pattern formed in the last trading session, potentially towards the 50% Fibonacci retracement which is also near its mid Bollinger band. The Stochastics has formed a bearish crossover. Stops could be placed at above US$0.87. House institutional research has a fundamental BUY with TP of US$0.89.

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