Haw Par Ltd – Daily timeframe (Update from 3 April 17)
Current Sentiment: Bullish
Support 1: 9.76 Resistance 1: 10.14
Support 2: 9.59 Resistance 2: 10.20
Price got rejected off the 10.14 resistance area once again after the last update, moving price into another correction since 05/04/17.
However, the uptrend remains valid as the correction was halted perfectly off the confluence of 60 day moving average, 23.8% Fibonacci retracement level and 9.76 support area. Additionally, there was an increasing volume bullish break above the 9.98 immediate range high and 20 day moving average on 25/04/17 suggests another possible attempt for the bulls to break above the 10.14 resistance.
Expect the uptrend to resume next for price to test the 10.14 resistance area followed by 10.20.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!Featuring regular TA posts and requests to analyse specific stocks