HI-P INTERNATIONAL (99 cents) – Market leader
- Last Wednesday prices formed a shooting star
- Shooting star occurs after a gap. If it is covered, then the gap will turn into an exhaustion gap
- Prices have to stay above 94 cents for upmove to remain intact
- Resistance is at $1.04
GLOBAL TESTING CORP (8.5 cents) – Poised for break
- Break above the moving average occurred at 8 cents
- A move above 8.5 cents would cause a break out of the downtrend line
- Resistance is initially at 10.5 cents
FU YU CORP (14 cents) – Poised for breakout
- Prices are currently forming an equilateral triangle
- The breakout level is at 14 cents and a successful break indicates a target of 18 cents
- Support is at current levels and prices should be moving higher
MEIBAN GROUP (33 cents) – Possible bull flag
- Prices could be attempting to form a bull flag
- A break above 34.5 cents would confirm the bull flag and indicate a target of 42 cents
MIYOSHI PRECISION (16.5 cents) – Breaking out of a downtrend
- Prices broke out of a downtrend at 15 cents earlier this month on significant rise in volume
- Resistance is at 18 cents initially and 20 cents subsequently
- Upmove is likely to be gradual initially and gathering steam eventually
UMS HOLDINGS (48 cents) – Breaks out of resistance
- Price broke out of resistance at 44 cents last week, indicating an objective of 63 cents
- Break took place on very high volume
- Prices may reach the target first before a proper correction take place
(Source: TheEdgeSingapore September 27 2010)
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