This is not a Trade Setup.
Hong Fok have been a wide side way movement since 2014 from 0.530 - 1.020.
There are strong demand coming in each time price dip to 0.650. Selling occurs around 0.890.
Playing within this sideway movement is possible, however be sure to buy close to the lower end (0.550-0.650). Strong momentum can sometime push this counter above 0.900 but the probability of getting stuck at the top is high.
Eventually in long term prospect, price can go beyond 1.000, however patience and holding power is require.
Hong Fok have been a wide side way movement since 2014 from 0.530 - 1.020.
There are strong demand coming in each time price dip to 0.650. Selling occurs around 0.890.
Playing within this sideway movement is possible, however be sure to buy close to the lower end (0.550-0.650). Strong momentum can sometime push this counter above 0.900 but the probability of getting stuck at the top is high.
Eventually in long term prospect, price can go beyond 1.000, however patience and holding power is require.