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.