Hong Leong Asia

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

Kelwin & Roy Hong Leong Asia , , , , , , , , ,
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

Hong Leong Asia- Another 25% up since last blog post, Upward momentum to continue?

Kelwin & Roy Hong Leong Asia , , , , , , , ,
15th February, 2017, 12:05 AM

Hong Leong Asia- Another 25% up since last blog post, Upward momentum to continue?

Hong Leong Asia 14 feb 2017

Hong Leong Asia, which move up another 25% since we our last blog on 9 Feb on last thursday has been on a tear recently, breaking out of the 1.09 resistance level we mentioned and closing at 1.375 which is well beyond our target of 1.165 .

In fact the stock today’s closing price of 1.375 has represented a 38% increase since our first blog post on it on 2 feb. However We would like to remind our readers that such movement in a short period of time do not appear often , especially for a mid cap stocks like Hong Leong Asia. So do remember to be discipline in your trade plans.

Looking at the chart , Hong Leong Asia is now near its 1.40 resistance level, if it can break and stay above this level , the next possible upside resistance may be the 1.53-1.58 area , with a stop loss below 1.245 area . As the stop loss is pretty wide and the stock has moved up quite a lot , do remember to adjust your position size accordingly.

Yours

Humbly

Kelwin&Roy

 

 

Hong Leong Asia- Up 8% since last blog post

Kelwin & Roy Hong Leong Asia , , , , , , ,
9th February, 2017, 11:57 PM

Hong Leong Asia- Up 8% since last blog post

Hong Leong Asia 9 feb 2017

Hong Leong Asia , which triggered our entry setup at 0.995 last week on 3 Feb  , the next day after we blogged on 2 Feb , has had a pretty good run for the past one week rising beyond our targeted resistance of 1.04 and closed at 1.075 today, which is up about 8% since the entry setup was triggered.

In fact, it ran to a high of 1.115 on 7 Feb representing a increase of about 12%,  within 3 days after the entry setup was triggered.

Currently , it’s now above the 1.04 previous resistance now turn support area and below its short term resistance area of 1.09 , if it rises above the 1.09 resistance level and stay above it , the next possible upside resistance may be 1.165 region . However it break below 1.04 support area , the next possible support area will be 0.99 which was the previous breakout point .

Yours

Humbly

Kelwin & Roy

Hong Leong Asia – interesting setup

Kelwin & Roy Hong Leong Asia , , , , , ,
2nd February, 2017, 11:09 PM

Hong Leong Asia – interesting setup

Hong Leong Asia 2 feb 2017

Hong Leong Asia which is the trade & Industry arm of Singapore conglomerate Hong Leong Group,  has a good move in  January last month,  having moved from around 0.7 to 0.99 before pulling back and consolidate around the 0.87 support region.

It has bounced off the 0.87 support region the past 3 days with increasing volume so it will be interesting to watch if the upward momentum can continue and we will be keeping an eye on it . There are 2 possible ways we may look for entry on it :

  1. Wait for pullback to the 0.87-0.9 support region again before considering an entry ( buying at support) , stop loss for such case will be around 0.865
  2. Or it could break above 0.99 the recent high and we might consider an entry at 0.995. ( Buying at breakout)

If it manage to break above the 0.99 recent high , the next upside resistance may be around 1.04

Your

Humbly

Kelwin&Roy