This week, Hi-P caught my attention due to its chart. It last trades at $0.990. Day range 0.985 – 1.00. Let’s take a look.

Basis below

1.Chart looks interesting with rising ADX, amid positively placed DI

Hi-P has been trading in a tight range $0.885 – 0.960 since 8 Jan 2019 and broke out with strong volume on 11 Feb 2019. ADX has been rising to trade 31.6 amid positively placed DI, indicative of a trend. RSI last trades 57.9. Today is T+8 of 11 Feb upmove. There has been some price weakness on 15 & 18 Feb as I think some contra players exited their positions. Share price has consolidated for 8 trading days. Short term exponential moving averages (e.g. 20D, 50D and 100D EMA) are trending higher with golden cross formations. Long term moving averages such as 200D SMA and 200D EMA have yet to follow suit.

For