Credit Bureau Asia - 05 Feb 2025

Price Action Analysis for CREDIT BUREAU ASIA (SGX: TCU)

Timeframe: 1D (Daily Chart)

1. Trend Direction & Market Structure:

• The stock was in a long-term downtrend from early 2021 to late 2023, making lower highs and lower lows.
• Recent price action (since December 2023) shows a strong bullish reversal, breaking out from the prior range.
• Current Trend: Bullish (Higher Highs & Higher Lows forming)

2. Key Support & Resistance Levels:

• Resistance:
  • $1.30 - $1.35 (strong supply zone; previous highs from early 2022)
  • $1.25 (recent rejection point in early February 2025)
• Support:
  • $1.16 (recent pullback level; potential demand zone)
  • $1.00 - $1.02 (psychological level, previous resistance turned support)
  • $0.90 - $0.95 (historical base before breakout)

3. Candlestick Patterns & Volume Analysis:

• Bullish Breakout:
  • December 2023 - January 2024: Breakout above long-term consolidation around $0.90 - $1.00, confirmed by increasing volume.
  • February 2025: Price action forming a potential bull flag after strong bullish momentum.
• Key Candlestick Patterns:
  • Bullish Engulfing Pattern near $1.00 before the breakout.
  • Hammer Candlestick near $1.16, signaling buyers stepping in at support.
  • Possible Hanging Man at $1.25, which could indicate short-term exhaustion if volume dries up.
• Volume Analysis:
  • Volume spike on breakout from $1.00 to $1.24, suggesting strong demand.
  • If volume decreases on pullback, it confirms a healthy retracement before another leg up.

4. Trade Setups & Risk Management:

• Pullback Buy Opportunity:
  • Buy Zone: $1.16 - $1.20 (previous breakout level + demand zone)
  • Stop-Loss: Below $1.12 (previous swing low)
  • Take Profit: $1.30 - $1.35 (next resistance zone)
• Breakout Play:
  • Entry: Above $1.26 (with strong volume)
  • Stop-Loss: Below $1.22 (recent low)
  • Take Profit: $1.35 (prior resistance)

Conclusion:

• Bullish Momentum: Price has transitioned from a downtrend to an uptrend, supported by volume.
• Key Decision Point: If price holds above $1.16, the uptrend remains intact.
• Next Move: Watch for a breakout above $1.25 - $1.30, or a healthy pullback to $1.16 - $1.20 for a buy setup.

Disclaimer: This analysis is for educational purposes only and should not be considered investment advice. Trading involves significant risk of loss and you should consult with a financial advisor before making any investment decisions.

Dividend: 3.25%