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Friday, May 4, 2018

Hi-P

Hi-P - The company bought back share for the past 2 days.

Yesterday it bought back 400,000 share at $1.46/1.47 per share.

 Another share bought back 761,20 share at 1.47-1.50 per share. Looks like the company is trying to support the share price from going lower.

 (http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12Months&F=FWOSLC1WALXI63U8&H=5fe681a63266cf7695a559f7d8965e42f3996dbb9db28f99daecf57033758728)



http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12Months&F=YJSTH4ZPZFHQLQF4&H=f3014d631c303cacce6071a73717ee7e059257d9e6173271d44ca31f2b2caec5


Shares of Apple hit an all-time high after famed investor Warren Buffett revealed that he purchased 75 million shares during the first quarter.

I think the purchased of Apple share by WB has helped to safe Dow from going under its 200 days Moving average. It was trading down 100 points before rising 300+ points due to WB purchased news.This is quite a positive  move in diverting Dow from falling further. 


With this purchased by WB good news, it has also helped the tech counter to rise : The Nasdaq composite rose 1.7 percent to close at 7,209.62, its first positive day in the last three sessions. The index was led higher by the aforementioned rally in Apple, a 1.4 percent gain in Facebook and a 2.4 percent boost in Google-parent Alphabet.



The Dow Jones industrial average closed 332.36 points higher at 24,262.51 thanks to a 3.9 percent rally in Apple's stock, which jumped after famed investor Warren Buffett revealed that he bought millions of shares of the iPhone maker in recent months. By the closing bell, Apple had posted a gain of 13.45 percent for the week, its best since October 2011.
The S&P 500 rose 1.2 percent to finish at 2,663.42 after falling 0.4 percent earlier in the day, buoyed by a nearly 2 percent gain in tech, which led all 11 sectors for gains.
quote : cnbc.com

From TA point of view, Hi-P has been drastically selling down after touching the high of $2.79 on 16th Mar 2018. It has gone down to hit $1.45 before closing one cent higher at 1.46. This is super bearish.

The current price of 1.46 is staying below all its SMA lines such as 20,50,100 & 200 days moving average. The first obstacle is to challenge and cover the Gap at about $1.62 level in order to rise further.
Breaking out of $1.62 with ease, that may likely propel to drive the price higher towards $1.70 level and then to challenge the $1.79/$1.80 level which is also coincide with its 200 Days moving average.
Not a call to buy or sell.

please do your own due diligence.




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