Skip to main content

Hongkong Land (SGX: H78): Positive Momentum in Progress


Hongkong Land (SGX: H78): Positive Momentum in Progress

Hongkong Land (SGX: H78) has shown a compelling technical setup that indicates potential bullish momentum. The daily chart reveals a prolonged downtrend that has tested significant support and resistance levels, giving us crucial insights for the upcoming trading sessions.

Key Levels and Momentum:

  1. Support Zone (0 level at S$2.78): The stock recently bounced off a significant support level at S$2.78, which has held strong since its last test. This level corresponds to the lows from previous years, indicating strong buying interest at this price point.

  2. Resistance Levels (1 level at S$3.54 and 2 level at S$4.31): The chart highlights two key resistance zones. The first is around S$3.54, where the price has struggled to break through in the short term. A successful breakout above this level would suggest a move towards the next resistance at S$4.31, which could see the stock approach S$4.30—a potential target derived from the previous trading range.

  3. Positive Technical Momentum: The recent price action suggests a bullish reversal could be in progress. The stock has managed to break out of a descending trendline, suggesting that the negative momentum is weakening. The next confirmation would be sustained trading above S$3.54, which would validate the positive momentum and increase the likelihood of reaching the S$4.30 target.

Risk Management:

  • Stop Loss at S$3.15: To manage downside risk, traders might consider setting a stop loss at S$3.15. This level provides a cushion below the breakout point and ensures that the risk is controlled if the momentum fails to sustain.

Conclusion:

Hongkong Land is showing signs of potential upside, with a bullish breakout seeming likely if the stock can hold above the S$3.54 resistance level. Traders should watch for continued strength in this area as an indicator of further gains, potentially reaching the S$4.30 mark. However, as always, risk management is crucial, and setting stops at S$3.15 could protect against unexpected reversals.

This setup offers an intriguing opportunity for traders looking to capitalize on positive technical momentum in Hongkong Land. Keep an eye on these levels as the market unfolds.

Disclaimers Apply

Most Popular

Historical Stock Market Performance During the Year of the Snake (2025)

Historical Stock Market Performance During the Year of the Snake (2025) Introduction: The Chinese zodiac plays a fascinating role in shaping cultural beliefs and behaviors. Among the 12 zodiac animals, the Year of the Snake is often associated with intelligence, caution, and financial shrewdness. We take a simply review of three key indices, S&P 500, Hang Seng Index (HSI), and Straits Times Index (STI),  annual performance  during the Year of the Snake. Key Observations from the Data: S&P 500 Performance: Average annual return: 0.47% . Win/Loss ratio: 37.5% (3 years of gains vs. 5 years of losses). Notable years: 1989 marked a robust gain of 27.25% , while 1941 saw a steep decline of -20.22% , coinciding with global tensions during World War II. HSI Performance: Average annual return: -5.36% . Win/Loss ratio: 66.67% (2 years of gains vs. 1 year of losses). Notable years: The index's strongest year was 1989, with a return of 5.55% , while 2001 suffered a severe decli...
Read more

Week Ahead: US Indices Momemtum in Question

    Week Ahead: 10 March 2025 Key event this week was  U.S. indices technically closed below the key 30-week (or 150-day) moving average . For the upward trend to continue, the indices need to reclaim levels above the moving averages. Remaining below the 30-week (or 150-day) moving average could indicate that the upward trend has reversed downward. However, in the short term, we expect a rebound as the indices trade near their respective support levels. Medium Term: S&P 500 (SPX):  The S&P 500 broke below its key upward trendline, which had been established since October 2023. In the longer term, we expect the index to trade sideways or move in a downward direction. In the short term, we anticipate the S&P 500 will find support at the 5,700 level and could rebound to test the 5,860 and then the 5,966 resistance zones. Straits Times Index (STI):  The technical trend remains bullish. We maintain a constructive outlook while staying vigilant for any sig...
Read more

Palantir Technologies Inc PLTR: Technical Rebound at Sight After US Broad Market Stabilises

  Palantir Technologies Inc. (PLTR) USD86.24 Palantir (PLTR) posted a bullish reversal, closing above the 13-day SMA (83.56) with significant volume expansion. This signals potential momentum strength in the near term. First key resistance zone between the 50% and 61.8% Fibonacci retracement levels (USD 99.85 – 105.79), which could present selling pressure. Disclaimers apply
Read more