The stock has since consolidated and formed a bullish flag pattern. Yesterday, the stock managed to overcome its resistance on strong volume. A long white candle can also be seen on its chart. Supported by bullish indicators, we believe the stock is still a Technical Buy. Investors who bought earlier may choose to add to their shareholdings or wait for higher prices to take profits. Short term target is S$0.68.

DBSV - Technology Sector (4 Jun)

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theme in five US cities in the past one week. Many investors

appreciate the M&A highlight as the pace of takeovers raging

today just makes it hard to ignore the trend. In fact, even as we

were on the road, our M&A top picks Amtek was bid for by

private equity while the takeover noise on UTAC became louder.We marketed Singapore tech stocks premised on the M&A

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for M&A but would buy fundamentally good stocks where

buyout potential is an added bonus.Nevertheless, fund managers will not place all bets purely

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significant interests in UTAC and Global Testing whereas

fundamentally driven long-term funds are keen on Unisteel and

Venture. Aztech and Beyonics also garnered some interests for their undemanding valuations.In anticipation of the semicon recovery in 2H, we noted

Overlooked Singapore tech offers good values. Most clients are underweight on Singapore tech but the consensus is that tech stocks here are cheap vis-à-vis healthy growth prospect. On the average, Singapore techs are trading below 10x PER while Taiwanese counterparts average around 15x if counting stock option expenses......