Hi-P

Hi-P : The company has been buying back share continuously for the past few days. Buying back share prices ranging from 1.38 to 1.50.
This could be that the company is viewing the current share price is trading below its fair value.
The buying back is also a good way to support the share price and it may also enhance its NAV for this counter.

From TA point of view, we had a very encouraging sign of a nice Reversal patterns being formed yesterday as reflected on the chart.

On 8th May, it has gone down to touch $1.36 whereby Bull is able to take control and close well at 1.43. A bullish candlestick has been formed.This is rather bullish!

The confirmation was follow-through yesterday whereby it has managed to conquer $1.46 the high of previous day which is very positive . It close higher at $1.50 , couple with quite a high volume, this may provide further indication that fund/BB may have coming back to buy up the share price that has been overly sold down from 2.79 to the low of 1.36.

I am seeing a nice recovery play chart patterns.

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 $1.82 level which is also coincide with its 20 Days & 200 days moving average.

Not a call to buy or sell.

Please do your own due diligence.

Latest 1Q result for your reference. Gross Profit increased 13% to reach 37.8m. 
Net Profit increase marginally of 1.3% to 12.1m after factoring the foreign exchange loss of 13m..

Hi-P International Limited operates as an integrated contract manufacturer serving the telecommunications, consumer electronics, computing and peripherals, lifestyle, and medical and industrial devices industries. The company operates through three segments: Precision Plastic Injection Molding; Mold Design and Fabrication; and Provision of Sub-Product Assembly and Full-Product Assembly Services. It manufactures and sells molds and special tools, related housing appliance plastic components and equipment, and water treatment equipment; plastic components and plastic product modules; mold base and components; electric components and electronic communication equipment; in-mold decoration lenses; precision stamped metal components and precision tools; and metal and non-metal stampings, as well as provides spray painting, engineering support, maintenance, and technology consultation services. In addition, the company engages in the manufacture, wholesale, import and export, and sale of electronic telecommunication devices, housing appliances, automated equipment, and related components. Further, it manufactures and sells trays, mobile phones, telecommunication products, digital cameras and related electronic products, and electric toothbrushes; assembles coffee machines and parts, as well as provides related maintenance and after-sales services; and offers investment and management consulting services. Additionally, the company engages in the assembly and provision of ancillary value-added services, primarily surface finishing services. It has operations primarily in the People's Republic of China, Singapore, Malaysia, Thailand, Europe, the United States, the rest of Americas, and internationally. The company was founded in 1980 and is headquartered in Singapore.