Chart wise : Buying volume kicked in ……………
Leong Hup Hldgs had on 6/8/2010 crossed over the immediate high of RM1.49 (2/8/2010) to a day high of RM1.53 before settled at RM1.50.
Next Potential Upside Target : With the upside violation of RM1.49 level, Leong Hup Hldgs looked set to trade upward with next upside target at RM1.70.
Entry Level : Risk taking traders may establish buying position at RM1.49 as a small pull back is seen likely before making attempt(s) to go higher.
Stop Loss Level : Once a buying position is being established, a stop loss at RM1.43 level must be placed for risk capital protection followed by a trailing stop loss strategy.
by Mercury Securities
