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Tat Hong, Will It Resume Its Uptrend After Consolidation?
Trend Spotting | 04 October 2013
By: Robin Han
Articles (102) Profile

A short term uptrend formation has been seen on Tat Hong’s price chart, evidenced by the higher highs and higher lowers. We can also see that both the MACD and Moving averages are indicating that an uptrend has formed, at least for the short term. After having tested the gap at around $1.05, its price pulled back to consolidate. The question is whether the uptrend will continue. We can see that the sell down was mild and the selling volume was low, indicating the sellers are relatively weak.

Besides, the support at around $0.94 is quite strong. One may consider to buy on weakness during the pull back and expect the stock to have a nice rebound thereafter or even break through the gap above $1.05. The recent quarterly report for Tat hong was not good, but the price has dropped a lot after that and has formed a rounded bottom. The market seems to have accepted the fact already. The next financial report is likely to be expected in the next three months, therefore the stock is not likely to be affected by the impact of any new reports within the next three-four weeks.

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

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