Support 1: 14.00 Resistance 1: 14.63
Support 2: 12.80
Haw Par has rallied up and covered its gap down that happen last week. Although the sentiment remains bullish, the market failed to break the high of 14.62 yesterday. The main reason is that the market is exiting with the bullish profits and thus send the market into lower tail wind. We believe that the market may find itself correcting into the demand zone at 13.93-14.00. Based on the following technical factors, we have strong reason to believe that Haw par will rebound at the demand zone.
*Should the market traded below the uptrend line for 5 consecutive days, there might be a possibilities that the market will fall even lower.
Red line = 200 period moving average, Blue line = 50 period moving average, Green line = 22 period moving average
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