HIAPTEK - Will history repeats itself?MYX:HIAPTEK
Currently Hiaptek is forming a Cup and Handle pattern with a slight breakout from the handle during the previous trading day.
Hiaptek needs to break a few Resistance in order to perform a successful breakout, with high volume supporting it.
From the chart, we can see that the previous cup and handle formed by HIAPTEK a few months back is quite a successful one amid strong steel sentiment during that time.
A few trading days back, we observe the leaders of steel related counters began to pick up positive momentum.
If the sentiment continues, i can see HIAPTEK scaling higher and breaking the previous high back in early 2018.
For mid to long term swing, i foresee this counter will be able to break its all time high.
Previous half year trading volume beats any trading volume previously in the same time range. This shows that HIAPTEK has sparked renewed interest and looks like investors are here for the long run.
DISCLAIMER: This is just my personal opinion and should not be construed as a buy/sell call. Please consult a professional for investment advice.
- abgmax -
