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Friday 15 November 2013

Technical Analysis on Hankore - September

Let me start by sharing on the TA(technical analysis) for Hankore.

As you can see from the chart, the price started forming an ascending triangle on 13 Sept with resistance @ 0.056. If you are familiar with ascending triangle, it is usually a bullish continuation pattern.

This presents an opportunity to enter the stock with a good risk to return ratio. As a break out would indicate an uptrend with short-term TP @ 0.065.

The chart below shows that comes immediately after the breakout.


That would have made you some nice profit.

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