Singapore Stock Watch 25 Jan 2017

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25/1/17

Japfa

  • Since stock reached its peak of $1 in Nov last year, it has retraced into a sideways pattern for a couple of months
  • A sudden surge in price and volume yesterday indicates renewed interest in the stock
  • A further breakout above $1 on strong volume still push the stock through the psychological resistance level of $1 and continue further
  • Entry @ $1.005 with Stop @ $0.955 (mid point of previous range)

Mermaid Maritime

  • As previously mentioned, stock broke out on 19 Jan to reach a high of $0.205
  • Since then, there has been a tight consolidation which little selling, which is a good sign
  • A further breakout above $0.205 should result in continuation of uptrend
  • Continuation Entry @ $0.21 with Stop @ $0.191

MM2 Asia

  • We saw a breakout on 20 Jan that reached a high of $0.515
  • Since then, there has been 2 daily bars of consolidation with low volume indicating little selling
  • A further breakout above $0.515 should result in continuation of uptrend
  • Continuation Entry @ $0.52 with Stop @ $0.49