Chiwayland – potential upside chart breakout (4 Nov 16)
Chiwayland has dropped from an intraday high of $0.177 on 10 Oct 2016 to trade to an intraday low of $0.151 on 2 Nov 2016. It closed at $0.162 on 4 Nov 2016. Based on Chart 1, Chiwayland seems to have staged an upside breakout above $0.157 on strong volumes, the highest since 11 Oct 2016 (which coincided with the date of UOB Kayhian’s unrated report – see below). All the exponential moving averages (“EMAs”) are rising which indicate an uptrend. Although ADX is declining, it is still at elevated area at around 39 with positive placed directional indicators, indicative […]