Technical Pulse: Hi-P International Ltd April 7, 2020 673

Hi-P International Ltd(Current Price: $0.89)

Sell spot: 0.89      Stop loss: 1.02    Take profit: 0.30

Hi-P international (SGX: H17) strong sell-off since 14th Jan 2020 has tumbled the stock price to below 1.00 and based on the technical, the sell-off will continue:

  1. Bearish flag formation below the selling zone and the 38.2% Fibonacci retracement indicate that the seller is re-entering.
  2. Dark cloud cover formation and the inside bar doji formation below the selling zone and 38.2% Fibonacci retracement shows a clear incoming of the bears.
  3. The 50 Simple moving average has crosses below the 200 Simple moving average resulting a death cross, signify that the stock is in a bearish mode.
  4. Stochastic Oscillator shows an oversold crosses, indicating a strong sell-off,


*Timeline of the trade should be between 1-3 weeks from the date issued.

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