HL Asia is still going strong. Since 29th of August, the stock has edged higher to 3.84 before making a pullback . There is strong support at 3.66, and it is still attractive based on the last closing price of 3.71. The first target to clear is 4.32. Based on a swing setup, entry can be made above the downtrend channel at 3.74. For a longer term positional trade, a break above 3.84 should happen before an entry is made.
The recently released financial reports point towards strong growth contributions from the units in China. The 2nd quarter results reflected a stellar 98% increase from 2nd quarter 2009. The strong momentum will allow the company to continue to deliver results.
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