Hotung Investment Holdings Ltd (SGX: BLS)
Timeframe: Daily (YTD to 11 Nov 2025) | Last Traded: S$ 1.40
1. Market Structure & Order Flow
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Trend Bias: Ranging-to-transitional. Price oscillated between ~S$ 1.30 (support) and ~S$ 1.45–1.53 (resistance).
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Swing Highs/Lows: Major SH = 1.45 (May) → 1.53 (Aug) → 1.44 (Oct); SL = 1.30 (May–Jun) → 1.32–1.33 (Sep) → 1.38 (Oct).
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Break of Structure (BOS): Upside BOS in July when price breached 1.33 with strong volume → 1.53. Subsequent CHoCH as price failed to sustain above 1.50 and retraced to 1.32.
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Momentum Decay: Post-August rally bars narrowed with overlapping ranges, signalling absorption and distribution around 1.50.
2. Advanced Volume-Price Relationships
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Volume Signature:
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High volume + small range around 1.30 → absorption (early accumulation).
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Volume expansion July–Aug → institutional markup phase to 1.53.
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Sharp red bar (heavy volume) mid-Aug near 1.32 → possible shake-out clearing weak hands.
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Volume Divergence: Oct retest of 1.44 on lower volume → rally weakness / profit taking.
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Current Pattern: Volume moderating near 1.38–1.40 support zone → potential spring-type test.
3. Institutional Footprint Recognition
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Liquidity Grab: Aug spike to 1.53 likely cleared buy-side liquidity above 1.45 then reversed → distribution top.
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Order Blocks: 1.33–1.38 remains key demand zone (marked by large bullish engulfing after shake-out).
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Displacement Moves: July breakout bars showed strong institutional impulse; since then, displacements absent, confirming range market.
4. Bar Pattern & Price Action Signals
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Reversal Bars: Hammer-like bars around 1.30 and 1.32 confirmed support strength.
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Continuation Bars: Tight inside-bar clusters mid-Oct → energy compression before directional break.
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Indecision Bars: Recent narrow bodies near 1.40 reflect uncertainty ahead of next impulse.
5. Multi-Timeframe Confluence
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Weekly Bias: Neutral sideways since Q1 2025; macro support 1.25–1.30, resistance 1.50+.
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Daily Structure: Compression between 1.38 (demand) and 1.45 (supply) → potential energy build-up for next move.
6. Psychological & Key Levels
| Zone | Interpretation |
|---|---|
| 1.30–1.33 | Historical demand base / accumulation floor |
| 1.38–1.40 | Current pivot / re-test area |
| 1.45–1.50 | Supply band / profit taking zone |
| 1.53 | Swing high liquidity grab |
ATR (14D) ≈ 0.04 → price moves within tight band ⇒ compressed volatility.
7. Market Regime Classification
Current Regime: Ranging with transition potential.
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Volatility low; volume reduced; directional commitment pending break of 1.45 or drop below 1.38.
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False breakouts likely until decisive volume expansion occurs.
8. Risk-Adjusted Setup Outlook
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Bullish Scenario: Hold above 1.38 → confirmation break > 1.45 on volume expansion targets 1.50–1.53.
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Bearish Scenario: Break below 1.38 on high volume → retest 1.33 then 1.30 floor.
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R:R Guideline: Long near 1.38 stop < 1.33 target 1.50 → R:R ≈ 1 : 2.4.
9. Forward-Looking Bias & Key Levels to Watch
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Immediate Bias: Neutral-bullish if 1.38 holds; transition to bearish if 1.33 breaks.
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Watch: Volume spike on close above 1.45 (validates markup resumption).
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Institutional Interest Zones: 1.33 (accumulation test) / 1.50 (liquidity exit).
Summary:
Hotung (BLS) is consolidating after a July–Aug markup. The range 1.33–1.45 reflects institutional balancing between re-accumulation and distribution. Sustained volume expansion beyond 1.45 is needed for trend continuation; failure to hold 1.38 reopens 1.30 support test. Current structure favors patient observation or tactical entries near support with tight risk controls.
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: 7.86%
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