************************ Hankore Env: Where is it heading now ? Breakdown of support or Rebound from it ?

Following up from previous Sell call: http://singaporetradinginsights.blogspot.sg/2014/04/repost-on-blog-hankore-weakness-seen-on.html

Hankore has indeed broken below the 0.120 support convincingly 2 weeks ago and headed lower to a low of 0.107 seen today. It is supported strongly above the 0.108 level which has held since Jan this year. Note that there is a Bearish Head and shoulder pattern spotted currently with neckline support at 0.108, so any convincing breakdown from this support would be a negative and can see it go to 0.100 then 0.085, so CFD sell positions can be triggered on this breakdown to ride any downside. However, it can also rebound from this 0.108 Strong support, range likely to be from 0.108 to 0.116 so can also trade this range before any direction is made known. Resistance would be at 0.120 and 0.124 now and a breakup above 0.124 can signal an end to the down trend with reversal back to 0.150 level. Those who long near 0.108 support for potential rebound should have strict stop loss (0.105-0.106)  incase support does not hold.