Lii Hen (7089.KL) to re-test at the Resistance Level
Based on the daily chart, Lii Hen still moving in the accumulation level. Few interesting signals for Volume Spread Analysis traders should take note:
- Smart Money have tried 3 times to shakeout weak-hand holders as spotted in TradeVSA’s Spring signals.
- A good breakout with high volume on 15 November, however seller re-mergence after the breakout and pushes the price back to accumulation level.
- Currently price is testing the resistance level however as per current volume on 30 November, 3.30pm are still relatively low. We are expecting a higher volume toward the end of the day to ensure participation from Smart Money.
If the price does reverse and pullback to Support Level, look for Spring, No Supply and Test signals for entry with lower risk. We’ll continue to monitor Lii Hen for next week.
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