HIAPTEK trade ideas
HIAPTEK - Potential Cup and Handle FormationHiaptek (Steel / Commodity supercycle) potential formation of handle.
Impressive QR earnings
Rebounded at 0.450 support with higher low, good confirmation still uptrend with buying momentum
RSI oversold + golden cross , lots of room to move higher
Points of Interest
R1 0.500
R2 0.550
R3 0.660 (Cup and Handle Target)
S1 0.450
S2 0.400
HIAPTEK - Will history repeats itself?MYX:HIAPTEK
Currently Hiaptek is forming a Cup and Handle pattern with a slight breakout from the handle during the previous trading day.
Hiaptek needs to break a few Resistance in order to perform a successful breakout, with high volume supporting it.
From the chart, we can see that the previous cup and handle formed by HIAPTEK a few months back is quite a successful one amid strong steel sentiment during that time.
A few trading days back, we observe the leaders of steel related counters began to pick up positive momentum.
If the sentiment continues, i can see HIAPTEK scaling higher and breaking the previous high back in early 2018.
For mid to long term swing, i foresee this counter will be able to break its all time high.
Previous half year trading volume beats any trading volume previously in the same time range. This shows that HIAPTEK has sparked renewed interest and looks like investors are here for the long run.
DISCLAIMER: This is just my personal opinion and should not be construed as a buy/sell call. Please consult a professional for investment advice.
- abgmax -
HIAPTECK Technical AnalysisGood Cup and Handle Formed!
With good QR announced today:
• QOQ +492.5%
• 30m profit after tax
- RSI shows being oversold
- handle is forming nicely
- if can break out Cup neckline then would be xxx
S1: 0.46
S2. 0.43
R1: 0.505
R2: 0.53
Long term target based on height of cup: 0.64
Possible Cup and Handle Forming My first time posting here as a beginner trader! Testing my ideas to see ifI see a potential cup and handle forming here, at the time of posting the cup section is coming to an end over the next couple weeks. Then if a handle forms, can go long after the breakout from the dip. Any feedback welcome as I am still learning technical analysis and gaining experience.
HIAPTEK - would it breakout the flag?We observe flag pattern after 40 bids jump in early December. We also spot a reversal candle (hammer) inside the flag which could indicate reversal of plag pattern. MACD gives early breakout signal with RSI still showing momentum. Volume is lower in the flag which gives a good signal.
EP 0.505
TP 0.535 (+6%), 0.630 (+24% Fibo 1.272 target), 0.705 (+39% Pole target)
SL 0.475 (-6%)
Speed: Quite heavy with 689M shares float (50% of 1379M shares)
Sentimen: Economic recovery, bullish steel pricej
TAYOR