ZLBT Chats

Wednesday, January 9, 2013

ZLBT's Random Stock Pick >>> HAI-O (7668) 09 Jan 2013

We believe HAIO's chart pattern resembles an "Ascending Triangle", and the breakout should mark a resumption of the uptrend towards RM2.52. At yesterday's closing price of RM2.39, HAIO is nearing the RM2.42 resistance. We expect a small degree of profit taking at that level, and should momentum carry the share price beyond that level, our "Ascending Triangle" price objective of RM2.52 should then be attainable.

Technical Ratings
Resistance 2 : RM2.52
Resistance 1 : RM2.42

Current Price : RM2.39
Support 1 : RM2.25
Support 2 : RM2.00

Action : Buy On Weakness


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