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Tuesday, January 8, 2013

Singapore Stock Picks - Technical Calls

Buying Recommendation on Tat Hong

 The stock broke out of its short term consolidation triangle yesterday on rising volume. We expect prices to test the upper end of the uptrend channel resistance I the near term.

 Its MACD and RSI are beginning to turn up one more after holding at their respective support levels.

 The stock is a buy now with a stop placed below S$1.36. The next resistance at S$1.48 is likely to be tested. We would not discount the rally to surpass that level and test S$1.55 next.

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