Above is a weekly chart of Hi-P International. As the shares started to bottom again in January 2019, I continued to monitor the smart money activities. The proprietary indicators started to show "Markup Bullish" on 2nd week of January, telling me that the smart money is getting into this stock soon. By early February, the relative strength line began to move above zero line meaning that the stock is moving in sync with the STI index. Subsequently, in mid-February, "Uptrend indicators were triggered over 15th and 22th confirming that the this stock is going to fly.
I took a trade on the 1st "uptrend' trigger on 12th February at $1.02..
Watching patiently for the smart money to unload their inventories... Till date, 6th March, I am watching the stock is being tested for a higher price. The range of test is between $1.47 to $1.60 range. Breaking either side will determine the future of this price trend.
As such, for now is to wait patiently for the chart to evolve.. No need rush to add lots or sell early.
Let the market tells you what you should do next.....
Be patience, let the stock trends until its bend.....
Happy Profitable Trading 2019
