HRnetgroup Ltd (SGX: CHZ) technical shows that the upside is set to continue to rally once more:
- HRnetgroup has been on an uptrend since its corrective rebound from $0.435 on 11th September 2021 last year and since then, the stock has been making a series of higher highs and higher lows, confirming the uptrend
- The ascending triangle has been sustaining above the Fibonacci expansion of $0.405-$0.540 and $0.435 at 161.8%. indicating a strong bullish confirmation ahead.
- Prices has been trending above all three major moving averages after the golden cross was formed.
- Despite multiple oversold crosses of the stochastic, the stock is not experiencing any sell-off but rather a consolidation in the form of an ascending triangle as mentioned above.
*Timeline of the trade is 6 weeks from the date issued.
CHART LEGENDS
Moving average
Red dotted line = 200 periods Moving Average
Blue dotted line = 50 periods Moving Average
Green dotted line = 20 Periods Moving Average
