My view : hyflux will correct down to touch the rising wedge resistance line. Because during the first breakout uptrend channel resistance , the chartmaker aim to attract retailers' attention , however the px move too fast for the retailer to react , after that the px break the rising wedge reisitance which did the second breakout , the px advance to the horizontal resistance and breakout the horizontal resistance, the retailers , basic TA players and bbs saw the first breakout and second breakout pattern , assume that the third breakout horizontal resistance (major resistance ) will fly like mad , so they jump in and whack .. this is the time that the chartmaker offload it as the chartmaker already plan the line and the point which is the red resistance line , expert TA players will spot the technical uptrend resistance line which the px touch it will short it and at the same time chartmaker will offload to those people that think the third breakout of the horizontal resistance will make the px rise like mad , but actually the chartmakers selling to them .. :) so as powerful players no longer in pushing the px up so they have to cut it as their contra period is getting near .. so the px move down recently , i expect more selling until the px touch the rising wedge resistance line .
