Hong Leong Fin    Last:2.56    +0.01

Any View on HL Fin?

I would like to say the same thing again as the threadstarter.

Just seeking the guidance from investors here about this '4th defacto bank' ! Thank you for any input.

 

RSI on the downtrend.... forget it

 

HL Finance is the de facto 4th bank in singapore.

 

I closed a long position on HL Fin on 11 May and opening a short position on the same day. From a technical perspective it is now very very bearish indeed and if you are a short or medium term trader I would caution against continuing to hold a long position on this stock - why? Not enough space here to go into detailed analysis, but since Nov 05 it had a support level of 3.54 which it bounced off 3 times. When tested again a few weeks back it shot straight down through it, and continues to fall. In Feb of this year it also reversed off a resistance level below 3.88 despite a few attempts to break through. Yes, I am a technical trader so will not make any comments about the fundamentals of this stock, but as I said earlier I would seriously consider closing out any open position on this stock unless you are in it for the long term. Hope that helps..

 

Seeking your guidance on HL Fin. Thanks