Welcome back to “The Huat Project”, we would like to present our new Huat Stock which will be Black Horse Flying Dragon- HIAPTEK (5072).
News Analysis:
“The Worse is Over For HIAPTEK (5072)” https://www.thestar.com.my/business/business-news/2020/11/28/worst-is-over-for-hiap-teck
In This article, ED Foo Kok Siew opines that The worst is over for Hiaptek backed by fundamentals as their subsidiary, Eastern Steel is producing more steel with the highest rate of efficiency (117%). HIAPTEK (5072) will also penetrate into ASEAN countries to grow its presence as a prominent steel player.
“Steel Stock (HIAPTEK (5072) Soar again !!”
https://www.thestar.com.my/business/business-news/2020/12/29/steel-stocks-roar-again
Anti dumping duties to support recovery earnings. HIAPTEK (5072) will definitely benefit from this.
Technical Analysis:
Based on the above chart, HIAPTEK(5072) is has already broken out, however retraced to an appealing area as HIAPTEK(5072) is forming a Cup & Handle Breakout chart. HIAPTEK(5072) shall soon break its delicate resistance of RM0.505. Next Resistance will be at RM0.640. With support of RM0.44, the Reward to Risk Rato is very delicious. RM0.44 was also Tan Sri Dato Law Tien Seng’s last shareholding changes where he bought into HIAPTEK(5072) at a price of RM0.44 on 16/08/2019. Tan Sri Dato Law has already waited 1.5 years, maybe now is the time for HIAPTEK (5072) to fulfill its Flying Dragon destiny.
Conclusion:
We strongly believe that HIAPTEK (5072) will be able to fulfill its destiny as Black Horse FLying Dragon. If the key resistance of RM0.505 is broken, HIAPTEK(5072) will soar to greater heights to RM0.64 by performing the Cup & Handle Breakout. Afterall, look at Annjoo & Lionind which have already soared sky high. HIAPTEK(5072) will be the fundamentally sound + Tecnically bullish counter in steel sector.
What will you do?DISCLAIMER: This post serves as an educational analysis and is never meant to be a buy/sell call or recommendation. Investors must always do their own due diligence before making any investment decisions. The author of this post is not liable in any way for any decisions made by any individual.
https://klse.i3investor.com/blogs/THP/2021-03-09-story-h1542090497-Black_Horse_Flying_Dragon_in_MARCH.jsp
