HRNETGROUP (CHZ.SI) – SGX – Daily Chart Analysis (Nov 2024–Aug 7, 2025)
Chart Timeframe: Daily
Bars Analyzed: ~180
Last Traded Price: 0.705 SGD
Regime Classification: Transitioning from Accumulation to Emerging Uptrend
🔍 Top Technical Observations
1. Market Structure & Order Flow
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Swing Lows: 0.670 (Feb & May), 0.650 (Jun), 0.655 (Jul) – consistent demand absorption around this base.
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Swing Highs: 0.700 (Dec, Apr, Jul), 0.715 (Apr) – significant supply zone repeatedly tested.
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Break of Structure (BOS): Confirmed in late July → price closed decisively above 0.700 psychological resistance.
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Microstructure: Multiple higher lows since mid-June, clean upward staircase → suggests emerging bullish structure.
2. Volume-Price Relationship
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Volume Expansion on Rally: Notably increasing from mid-June to early July, aligning with price lift-off from 0.655 → institutional activity confirmation.
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Volume Contraction at Resistance: Tight bars with low volume in recent sessions near 0.705–0.710 → classic volume dry-up pre-breakout behavior.
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Absorption: Seen during early consolidation at 0.700 in Dec/Apr → institutional buyers absorbing supply before marked-up move.
3. Institutional Footprint Recognition
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Order Block: 0.650–0.670 zone from mid-June shows repeated rejections and accumulation behavior → potential smart money entry base.
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Liquidity Grab: Sharp drop to 0.650 in June followed by V-shaped reversal → spring-type action targeting weak retail stops.
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Fair Value Gap (FVG): Area between 0.685–0.695 from early July may act as magnet on pullbacks.
4. Bar Pattern Recognition
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Recent Tight Range Cluster: Last 5 bars showing small-bodied candles with declining volume just beneath 0.710 → coiling behavior, possible inside bar complex.
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No Bearish Rejection: Despite hitting resistance, bears have failed to push price down → strength concealed in consolidation.
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Volume Spike Confirmation: Watch for breakout > 0.710 on above-average volume for institutional breakout confirmation.
5. Multi-Timeframe Confluence
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Weekly Context: This daily bullish structure emerges after a long weekly base (6+ months) → multi-timeframe breakout aligning.
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Key Confluence Zone: 0.700 – serves as historical S/R + psychological level + BOS zone → strong pivot for continuation or failure.
🧠 Institutional Behavior Assessment
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Accumulation Detected: Clear accumulation footprint around 0.650–0.670 with progressive higher lows, absorption candles, and spring-type traps.
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Lack of Retail Momentum: Absence of chase volume at highs implies smart money may still be building positions → potential re-accumulation at current range.
🧭 Risk-Adjusted Setup Identification
| Parameter | Value |
|---|---|
| Entry Zone | Breakout > 0.710 (daily close confirmation) |
| Stop-Loss Placement | Below 0.690 (under recent swing low) |
| Initial Target | 0.740 (measured move from base breakout) |
| Extended Target | 0.765 (April high projection + momentum extension) |
| RRR | Approx. 1:2.5 to 1:3.3 depending on target |
| Position Sizing Zone | 0.700–0.705 (tight invalidation point) |
✅ Key Levels & Execution Notes
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Support: 0.700 (pivot), 0.690 (swing low), 0.670 (long-term demand)
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Resistance: 0.710 (minor), 0.740 (projected), 0.765 (major)
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ATR Zone (Daily): 0.010–0.015 → any breakout should exceed this range for validity.
📌 Trade Summary
Buying HRNETGROUP (SGX: CHZ) because price is consolidating beneath resistance after a breakout structure with absorption and volume dry-up, with stops at 0.690 targeting 0.740 for a 1:2.5 risk-reward ratio.
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Confidence Rating: 7.5/10
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Bias: Bullish continuation above 0.710
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Key Trigger: Breakout with volume above 0.710
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Market Context: Emerging from re-accumulation base with compression pattern → potential expansion phase imminent.
✅ Pre-Execution Checklist
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Wait for daily close > 0.710 on expanding volume
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Confirm no sudden news catalysts disrupting technical thesis
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Validate broader sector/market strength (SGX midcaps)
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Align position size with R-multiple and risk profile
Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.
Dividend: 5.67%
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