HLT - Inverse H&S Pattern forming?
Updated
It seems like HLT is going to form the inverse head & shoulders pattern - a very strong bullish signal - if it is going to rise further. As of today it is forming (has formed?) the right shoulder shape and may slowly rise further in the next few days before shooting through the roof within the next 2 weeks. The trading volume today is also quite reassuring as one of the criteria for the IH&S pattern is very low (ideally the lowest) volumes towards the rightmost end of the chart. Look to enter around the neckline at about the 0.67 - 0.69 area and we shall see that it will test the previous high at 1.01 with TP2=1.27 and TP3=1.82.
Note
Update 30/07/2020, 4.00 PM: It has been an absolutely wonderful upward movement so far. We've now completed Wave 3 when it rebounded off RM1.48 earlier this afternoon and shall now observe the consolidating Wave 4 with supports at S1=RM1.20, S2=RM1.12 and S2=RM1.02. After that we can sit tight and watch as we go for the last leg up towards TP3=RM1.82 with a possible further upside at RM2.03.
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