Hock Seng Lee - Chances For More Run-ups Ahead Are High… 09/08/2010

HSL broke out from a major resistance of RM1.54 lately. Despite HSL’s share price hit a high of RM1.59 in end-Mar 2010, the failure to defend the RM1.54 important technical level sparked off profit-taking pressure. But, the stock was wellsupported by the UTL throughout the months. It engineered a positive technical breakthrough to above RM1.54 last Thursday and settled at RM1.59 with a “starlike” candle on last Friday. This indicates a potential pullback to retest RM1.54 support this week if buying fails to accelerate.