HIAPTEK rose for a third consecutive day to end at 74.5 sen (+1.5 sen) on high volume yesterday. The gains represent strong follow-through buying, after the share price confirmed a bullish “Falling Wedge” pattern last week. The key momentum indicators remain healthy, and we reckon that the share price has further upside. Based on the chart formation, we expect HIAPTEK to gradually make its way towards 95 sen next. Traders should aim to take profit 3 bids below this level at 93.5 sen, whilst employing a stop-loss of 68.5 sen (also 3 bids below 70 sen support.

 

Source: Kenanga