HSS - beneficiary of RTS project?
Hi,
According to recent news, The JB-Singapore Rapid Transit project is expected to resume. I'm not really good in analysing news, but one of the companies that I read that may benefit from this project is HSS.
Looking at the chart of HSS, there is an appearance of a Wyckoff accumulation phase. (Or is it a re-accumulation?)
We have bar 1 which could be a selling climax ( large down bar with close at the low with ultra high volume)
Then bar 2 was another lower low with slightly above average volume, but price started to oscillate in a trading range after this low.
Bar 3 is a wide spread up bar with higher than average volume )(not excessive volume), and this could be the "Sign of Strength" bar.
According to Wyckoff rule, we wait for Sign of strength to appeared, followed by a Last Point of Support (LPS) for a good entry. If bar 3 was indeed the SOS, then bar 4 would be its LPS.
Bar 4 was interesting in 2 ways : 1) its a down bar with light volume (lesser volume than 2 previous bar) which may indicate a No Supply bar, and 2) the low of bar 4 was a "Spring" setup of the previous two bars, where it broke below the low of the previous 2 bars then closed it back above it.
Trade at your own risk, comments are welcomed.
According to recent news, The JB-Singapore Rapid Transit project is expected to resume. I'm not really good in analysing news, but one of the companies that I read that may benefit from this project is HSS.
Looking at the chart of HSS, there is an appearance of a Wyckoff accumulation phase. (Or is it a re-accumulation?)
We have bar 1 which could be a selling climax ( large down bar with close at the low with ultra high volume)
Then bar 2 was another lower low with slightly above average volume, but price started to oscillate in a trading range after this low.
Bar 3 is a wide spread up bar with higher than average volume )(not excessive volume), and this could be the "Sign of Strength" bar.
According to Wyckoff rule, we wait for Sign of strength to appeared, followed by a Last Point of Support (LPS) for a good entry. If bar 3 was indeed the SOS, then bar 4 would be its LPS.
Bar 4 was interesting in 2 ways : 1) its a down bar with light volume (lesser volume than 2 previous bar) which may indicate a No Supply bar, and 2) the low of bar 4 was a "Spring" setup of the previous two bars, where it broke below the low of the previous 2 bars then closed it back above it.
Trade at your own risk, comments are welcomed.
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