2:26 PM
Admin
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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