Chart wise : In position to go higher ……………
HSL (stock code 6238) had on 10/6/2010 gapped up to cross over the downward sloping trend line extended from day high of RM1.54 (30/4/2010) to connect the other high of RM1.50 (17/5/2010) with a day high of RM1.52 before settled at RM1.50.
Next Potential Upside Target : With the cross over of the downward sloping trend line, HSL would thus be likely to trade upward with next immediate upside target at RM1.57.
Entry Level : Risk taking traders may establish buying position at RM1.47 as a pull back is seen likely before the stock makes new attempt(s) to go higher.
Stop Loss Level : Once a buying position is being established, a stop loss at RM1.42 level must be placed for risk capital protection followed by a trailing stop loss strategy.
above: click to enlarge
by Mercury Securities
