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Hong Fok hits 10-year overbought level and up 12 out of 13 trading days! (19 Mar 19)
By Ernest Lim's investing blog  •  March 19, 2019

This week, Hong Fok catches my attention this week because

a) It has risen approximately 33% in 12 out of the past 13 trading days from an intraday low of $0.685 on 28 Feb 2019 to close $0.910 today. It is noteworthy the 13th day is at an unchanged level. In other words, Hong Fok has not had a down day since 28 Feb 2019;

b) At $0.910, this is near its 25 Oct 2015 high of around $0.91-0.920. The previous high which is higher than $0.920 occurred in Sep 2014. I.e. Hong Fok is trading near a four plus year high level;

c) Based on Chart 1 below, Hong Fok has been trading in a nine-month range $0.640 – 0.730 from Jun 2018 to Mar 2019. An eventual measured technical target arising from this chart breakout is around $0.820 which has already been attained;

d) Indicators are looking extremely

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By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.
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