Hyflux: On Down Trend

Base on the chart pattern, Hyflux is currently trading within a Down Trend Channel.  Hyflux will be facing a strong resistance between $3.20 to $3.25 which is a down trend channel resistance and also the 200D MA resistance. $2.80 which is a 61.8% Fibonacci Retracement support level may be a good entry point for long term investment in view of the company’s core competency in water treatment system and potential huge growth prospect.