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Another day of huge decline in the markets across the regions. And there are now quite a number of local counters that are now below their 200MA - ie technically regarded as bearish. One such counter which have "fallen off the cliff" over these last couple of weeks is HL Asia. It just went right through the Fibonacci 38.2% retracement and closed just below its 200MA. Looks like it may just head further down to test its next support at 2.86.

What it has gained in the last few months just got wiped out in a couple of weeks. This just goes to show what fear can do, which means the bears are usually able to make their gains in a much shorter time compared to bulls.