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Thursday, August 24, 2006

Hong Leong Asia

As requested by Sealion. Listed since 6 March 1998 on SGX Mainboard, Hong Leong Asia Ltd is a manufacturer of Home Appliances, Diesel Engines and Industrial Packaging products with its major manufacturing businesses based in China.

From chart, the 38.2% retracement mark from low of 1.20 to high of 1.95 is 1.45 while the 61.8% retracement mark is 1.67. As such, 1.45 will be a gd
support for HL Asia to launch another upwards assault. From the trend channels drawn, prices may not even touch 1.45 before it resumes trending up to test 1.67 again. RSi is turning up, very high chance of price going up north.

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