Hong Leong Asia – [ Rebound In Progress, Testing The Previous High Soon?]

26th May, 2021, 7:14 PM

Hong Leong Asia – [ Rebound In Progress, Testing The Previous High Soon?] Hong Leong Asia 26th May 2021

Chart Source: Poemsview 26th May 2021

Hong Leong Asia another stock that was on our radar for a rebound after a pullback. Using technical analysis, it broke its short term downtrend line yesterday and that was a positive sign for us! Well, you know the drill, we alerted our EXCLUSIVE CLIENTS and saw a nice 3% rebound on the same day hitting our first target! Volume looks healthy as traders started piling in and the shortist probably had to cover their positions due to the strong surge in price.

Where is Hong Leong Asia heading to? We are looking at it testing the previous high of around $1.06 with local houses starting its coverage on it. The building materials and diesel engines segments look set to benefit form a recovery in 2021. At $1.06 we might see more profit taking coming in and who knows we might take that resistance out very soon!

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Yours

Humbly

Kelwin&Roy

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