Attached above is the daily chart of Hong Fok that is listed in the Singapore market.
Refer to full Technical Analysis as illustrated in the chart. It is all self explanatory.
Those who did not get out on my end-2013, early-2014 and entire-2014 warnings, the price actions has not punished you yet, but the wealth destruction that I had warned in 2014 before it happens will come.
Note that the Head of the Shoulder-Head-Shoulder (SHS) formed in 2014 was a fake break-up ensuring the double bearishness in Hong Fok. The Left Shoulders and Right Shoulders have the same magnitude, i.e. same height, which makes this a powerful SHS.
Hong Fok has also failed to rebound or execute any rally on a +10.000 FFA.
This is bearish for Hong Fok.
Any escape wave, if market is gracious enough to execute it, is a sell.
Irregardless, market will eventually break down the RED SUPPORT trendline.
Good luck.
Those who did not get out on my end-2013, early-2014 and entire-2014 warnings, the price actions has not punished you yet, but the wealth destruction that I had warned in 2014 before it happens will come.
Note that the Head of the Shoulder-Head-Shoulder (SHS) formed in 2014 was a fake break-up ensuring the double bearishness in Hong Fok. The Left Shoulders and Right Shoulders have the same magnitude, i.e. same height, which makes this a powerful SHS.
Hong Fok has also failed to rebound or execute any rally on a +10.000 FFA.
This is bearish for Hong Fok.
Any escape wave, if market is gracious enough to execute it, is a sell.
Irregardless, market will eventually break down the RED SUPPORT trendline.
Good luck.
Donovan Norfolk Ang Technical Rating:
Bearish
(Short/Sell/Unload on any market gracious rebound)
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