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TA from OCBC 30/May/08
Oversold and due for a rebound
- Technics Oil and Gas (TOG) has corrected as per our forecast on 9 April.
It is currently consolidating around our highlighted support of S$0.485.
- We have observed that the correction has been made on the back of
gradually declining volume, suggesting the downwards momentum is
waning.
- The 100-day moving average currently trends in proximity to the S$0.485
support. Hence we view the near-term support at this level as strong.
- The oversold signal shown by the stochastic indicator also points to a
high probability of a rebound.
- We expect the subsequent rebound to take TOG towards its recent high
at S$0.65. The 200-day moving average currently trends close to this
level. Should TOG succeed in breaking past its recent high, it would head
towards the next resistance at S$0.69 -0.74.
- Immediate support remains at S$0.485 and subsequent support is set at
S$0.41
Wow! Home run...
P/E (TTM) 23.56
Technics Oil & Gas Further Raises Total Outstanding
Order Book for FY2008/2009 to S$110 Million
http://www.technicsgrp.com/ir_companyinfo.html
* Thu Jan 17 04:39:00 EST 2008 reuters.com
Technics Oil & Gas Limited announced that its wholly owned subsidiary,
Technics Offshore Engineering Pte Ltd, has secured an EPCC contract worth a total of SGD22 million
for the overall design, procurement, engineering, construction and commissioning (i.e. EPCC) of
natural gas booster compression systems, as well as the supply of operating spare parts for two years.
* Commentary on Prospects
www.technicsgrp.comThe oil and gas industry demand remains robust and the Group is continuing to build its order book.
As at 26 November 2007, the Group?s total outstanding order book comprising work-in-progress
carried over to FY2008 and new contracts secured to-date stands at approximately S$84.0 million,
for progressive delivery through to FY2009 with the majority of orders due for delivery in FY2008.
thanks for the learning~! ihatcoy!
cyjjerry85, It is doing acumulating phase (e.g for ppl tat buys on contra to leave the room)
Trading behavior is normal. See my previous post.
The splash of huge volume marking the start of a new trend, and buy indicators remain healthy.
In fact, MACD had finally cross the zeroline.
Today, it forms a tail where some embrace the opportunity to snap up the panic selling lots to
close@0.90
Never an inducement for any trade [vested]
any updates on TechOil&Gas? it rise up high recently...will it continue to go further uptrend? juz seeking opinions
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will this continue to go up? seems like so high already |
cyjjerry, some opinion on techincal chart.
Yesterday (13/06/07) volume is a one-day splash of unusual high volume that accompanies:-
1) A breakout from the trading range since 15/may ~ 12/06/07.
2) It also breakout the trend resistance of 0.88 that forms since 23/Jan/07 ~ 12/06/07.
From TA point of view, what that usually means is that, that marks the BEGINNING of a new Uptrend. (vested opinion). See my earlier post.
Never an inducement for any trade decision.
everyone seems to be very upbeat on TechOil...it will be up...currently contra players selling off in the opening minutes...this will gradually be picked up by buyers and well.........
Vested. Good luck.
potentially poised to challenge last high of 1.15.....
GL2A.
will this continue to go up? seems like so high already
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price action speaks for itself liao at least for today. keke!
good luck 2 all. |
Yes. see my earlier call. Nice one. [vested]
Have vested since on 02/June. Volume starting to build up. Potential to challenge previous height @$1.10
Never any inducement for any trade.
price action speaks for itself liao at least for today. keke!
good luck 2 all.
Start to move liao...
chart looks good...factual news look great...price will definitely fly uptrend todaY!
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TOG chart looks really good to me.
any TA guru care to comment more? pls! |
All indicator looking good.,But you have to ask urself.
why do u wan to buy this counter.
Can you keep for longer term etc. [vested opinion]
may be this will induce some interest tomorrow for TOG.... :-)
Technics Oil & Gas - Secures $3.5 mln in contracts
Curtis Bergh, 12 Jun 2007
Technics Oil & Gas says it has secured 3 contracts in china and Singapore totaling S$3.5 mln.
The contracts are for 16 sets of shipboard automation systems for shipyards.
The orders will be delivered through Sept. 2008.
The company does not expect the contracts to have an impact on earnings.
Analysts' surveyed by Reuters have on average a 'buy' call on the stock with a price target of S$1.05, compared to its last traded price of S$0.86, up S$0.01 or 0.58%.
TOG chart looks really good to me.
any TA guru care to comment more? pls!
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Seems like some actions are coming..... the chart looks pretty bullish !! |
Today, the price action had break thru.
1) Short term trend resistance resistance (trading range) of $0.865 &
2) Short term 15MA
3) Reversal indicators such as MACD had finally cuts thru the signal line & trending up technical indicators (stochastic)
All this, at a valid high volume of 1.608m @ long white candle.
Again, personal opinion. Not an inducement for any trade.
