Technical Analysis Report: Hongkong Land Holdings Limited (H78)
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
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- KSR·08-23👍LikeReport