Since recording a high of RM8.43 seen on 21^st January 2010, HL Bank has been forming a bearish reversal pattern called “Double Top”. Do be cautious as such chart pattern indicates a change from the prior uptrend of HL Bank into a potential downtrend. Another significant observation to note will be the MACD trend indicator as it has started to inch downwards below its centerline which suggests that the condition has turned bearish for HL Bank. Be on the lookout for its immediate support at RM7.83 and a violation below it may see a severe sell-off towards the next support at RM7.23. Immediate resistance will be at RM8.43.