Trend Analysis
Overall Structure:
- The stock experienced a downtrend from mid-2022 to mid-2023, marked by a series of lower highs and lower lows.
- From mid-2023 onward, higher lows and higher highs started forming, signaling a potential trend reversal.
Recent Breakout:
- The price recently broke above key resistance levels (~0.410 & 0.445 SGD) with strong bullish momentum.
- The next potential resistance zone is around 0.545 SGD (previous swing high).
Support & Resistance Levels
- Support:
- 0.395 - 0.410 SGD → Recent breakout zone (could act as new support).
- 0.370 - 0.375 SGD → Previous consolidation range.
- Resistance:
- 0.545 SGD → Major supply zone (previous high).
- 0.700 SGD → Psychological resistance level.
Candlestick Patterns & Market Sentiment
- Accumulation Phase: Price consolidated in a range (0.310 - 0.370 SGD) for months before breaking out.
- Bullish Confirmation: The breakout above 0.445 SGD was accompanied by strong upward momentum.
Trading Strategy Based on Price Action
- Pullback Buy: If the price retests 0.410 - 0.445 SGD and forms bullish rejection candles, it could present a buying opportunity.
- Breakout Play: If the stock closes above 0.545 SGD with strong volume, it could signal further upside.
- Risk Management: A stop-loss below 0.395 SGD to manage downside risk.
Dividend Yield 4.84%
Daily Chart
Daily Chart
