Haw Par Corp Ltd. (HPAR SP)
- Current Performance:
- Shares closed at a 52-week high, indicating strong momentum in the stock price.
- Volume has also increased, which suggests greater market interest and support for the upward move.
- Technical Indicators:
- The MACD (Moving Average Convergence Divergence) is positive, indicating that momentum is on the bullish side, and the short-term price trend is above the long-term trend.
- The RSI (Relative Strength Index) is at an overbought level. An RSI above 70 usually signals that the stock is overbought, which could mean a potential pullback or consolidation is possible. However, the momentum remains strong for now.
- Trading Strategy:
- Long Entry at 10.90, with a Target of 11.30, indicating potential upside movement of 3.67% from the entry point.
- Stop-loss at 10.70, which limits the downside risk to approximately 1.83% from the entry point.
This setup suggests that traders expect further upside in the short term, but are cautious about potential volatility given the overbought RSI levels.
Thank you
