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Hi i3rom3,
np, thanks for your reply. Why this stock has a NAV(21cents) which is higher than its stock price are always shunned by investors? How many stocks in the market now can purchase below NAV? Could not under the rational? Maybe, it is irrational to invest in stock with good fundamentals and earnings during bull times. Should follow the crowds go for loss-making firms which are more attractive....and have big "cheong" power..
sorry hmm3101,
did not see your post until now.
the counter is now at support level as previously stated by sojourner
Dear i3r0m3,
Need your advise. What is the support level? Btn 15.5cents and 16cents? Right? Thanks alot..
waiting for pullback first...
Extracted from CIMB Daybreak.
Description:
storage products. The company manufactures video cassette housing products, compact
discs (CDs), digital versatile discs (DVDs), compact disk-recordables (CD-Rs) and
business card CDs. Swing Media Technology trades plastics resins and packing materials
as well.
Swing Media Technology Group (Swing Media) is a manufacturer of dataImmediate outlook:
Ascending indicators suggest that the buying momentum is strong. The stock is a
The stock rallied past its resistance on strong volume last Friday.Technical Buy
S$0.135. Its next target is S$0.20.
now at S$0.145-0.16. Place a stop just below its breakout level atMedium term outlook (2-6 months):
managed to breakout above its MT resistance. A LT bullish saucer would likely keep the
downside risks are a minimal compared to its upside potential. Its technical indicators are
on an uptrend, indicating that buying momentum is slowly gathering pace. LT players
should continue to pick up the stock on weakness. The medium target points to RM0.255,
representing upside of about 55%.
Chipchip66, it's definitely broken out. However in this case, it could be a temporary whipsaw. As mentioned, didn't like volume on Friday. Money is definitely in this counter currently though. A slightly longer short-term view of this is should be good.
Good effort and good mindset, Sojourner. No one flies first without walking. :) Spotted some errors in your resistance and trend lines. Msn me at 63990898@onemail.com.sg, will let you know where those errors are. Cheers.
hi chipchip66, i'm just a newbie amateur, but let me give my analysis. hope you don't mind.
the immediate support should be $0.155, any price spike especially close above $0.18 accompanied by high volume, should indicate a breakout. counter does not seem overbought yet - MACD is still rising, RSI has just gone beyond 50% and is not yet 70%. this is also supported by the Stochastic and Wm%R indicator.
<img src="http://farm2.static.flickr.com/1032/560409654_92bb63d29f_o.png"></img>
good luck to those vested :)
p.s. not an inducement to trade.