Monday, August 12, 2013

Lii Hen Industries Bhd - Inverted Head and Shoulders






Lii Hen has been sitting on its neckline since early June and finally it managed to pull away in the last two trading sessions.




It has formed a very big inverted head and shoulders reversal pattern (2005-2013). From its 2009's bottom, it has completed its major wave 1-2, wave (i)-(ii) and sub-wave i-ii.




After moving up for 4 days from 1.61 to 1.88, it may need to take a two to three days breather before continuing with its sub-wave iii.




Lii Hen's first quarter (January-March 2013) earning is very impressive with 10.43 sens per share. Its net assets per share is Rm2.34. Its second quarter (April-June) earning will be announced before end of August.






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