Singapore Stock Watch 7 Feb 2017

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7/2/17

Alliance Mineral

  • Stock reached a high of $0.139 in Oct 2016 before retracing to form a double bottom pattern
  • Since then, in recent weeks, we have seen increased activity again, pushing the stock price to a high of $0.138
  • A breakout above the previous high on above average volume (>60m) should indicate a strong possibility of a resumption of uptrend
  • Entry @ $0.14 with Stop @ $0.128

Sunpower

  • Sunpower has seen a strong rise in the stock price since its breakout on 17 Jan this year.
  • Looks to be forming a tight consolidation pattern at current prices.
  • A further breakout above its most recent high of $0.775 should indicate continuation of uptrend.
  • Entry @ $0.78 with Stop @ $0.72