Chart Source: Poemsview 5th Aug 2020
Hi-P finally moved today after a week’s consolidation. It was slightly lagging behind some of the Electronic play like UMS and AEM and when the time came we finally rotated to it.
From a technical analysis point of view, we saw it being well supported by the 5ema and the uptrend line A nice consolidation was taking place too. It was holding well at support and hence we alerted our EXCLUSIVE CLIENTS on this analysis.
We’re glad Hi-P hit our first target of $1.37 up over 3.7% intraday and even continued up to $1.40. It closed right at our resistance point and now if Hi-P can close above this we might see our next upside target of $1.42 in the next few days.
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