Sunday, April 27, 2008

HAI-O Enterprise Bhd Update

The trade signal identified for HAI-O Enterprise Bhd did very well. From the identifed entry price of RM3.12, it has moved to highest point of RM3.58. It closed at RM3.54 on Friday. This trade produced a gain of about 13%. The method used is based on moving average crossover. For a detailed description of this method of trading please refer to my earlier post HAI-O Case Study

Based on candlestick pattern analysis, the Doji pattern that appeared on Friday trading session suggests that the bulls and bears are evenly matched. I will be looking at closing the trade if it drops below RM3.46 which is the low of the price action on Thurs 24 Apr 08.

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