$HongkongLand USD(H78.SI)$
Date: August 22, 2024
Key Technical Observations:
Breakout Above $3.50 Neckline on High Volume:
The stock has broken through the $3.50 resistance level on strong volume, signaling potential for a new bullish trend. This level now acts as support.
Bullish H&S Bottom Breakout:
A bullish Head and Shoulders bottom pattern has formed, with the breakout above $3.50 confirming a trend reversal. The pattern suggests further upside potential.
Approaching 52-Week High:
The stock is nearing its 52-week high. A breakout above this level could trigger additional buying momentum and propel the stock higher.
Conclusion:
The technical indicators for Hongkong Land Holdings are bullish, with the $3.50 breakout, H&S bottom pattern, and proximity to the 52-week high suggesting further upside. This presents a potential buying opportunity, though monitoring for any pullbacks is recommended. 1st TP - $3.72
HKL Daily Chart
💰Stocks to watch today?(5 Dec)
1. What news/movements are worth noting in the market today? Any stocks to watch?
2. What trading opportunities are there? Do you have any plans?
🎁 Make a post here, everyone stands a chance to win Tiger coins!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments