Above is the daily chart of Tech Pro Technology Development Ltd. (3823.HK). The Company and its subsidiaries are principally engaged in the manufacture and sales of aluminium electrolytic capacitors and V-chip type aluminium electrolytic capacitors.
By technical analysis, we can see that the stock price was in trading range for three months, after a pass-through of the red triangle (there was no breakout).
The trading range is around 1.70-1.85. These two levels indicate the boundaries which resist/support the stock price.
We can see that there were a few candles with long lower shadow recently. The price is still beautifully kept within the range, but the long lower shadow implies that the buying-force is quite strong here.
If the price breaks out 1.85, the surge of price could be extremely great. We can keep an eye on this stock.
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