Nordic - 29 May 25

Stock Analysis Report: Nordic Group Ltd. (SGX: MR7)
Timeframe: Daily (1D)
Exchange: SGX (Singapore Exchange)
Current Price: 0.340 SGD

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1. Trend Analysis

• Current Market Structure:
  The stock is in a range-bound market between 0.320 and 0.360 SGD, as evidenced by repeated price action tests of both levels without a strong breakout.

• Most Recent Higher High/Low:

  • Highs: 0.360 (multiple tests in Jan, Feb, and Apr 2025)

  • Lows: 0.320 and 0.315 (support tested Nov 2024, Dec 2024, Mar 2025)

  • Slight higher low seen at 0.315 vs earlier 0.285 suggests mild bullish support building, but no follow-through.

• Trend Weakness Signs:

  • Smaller bars with tails, especially from February 2025 onward.

  • Increasing sideways movement, overlapping candles, and failed follow-through above 0.360 indicates momentum exhaustion.

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2. Key Price Action Signals

🔹 Volume Spikes & Candlestick Reactions:

• Mid-August 2024:

  • Volume spike with long bullish candle from 0.280 to 0.320.

  • Closed near high → Strong bullish momentum.

  • Result: Continued rally to 0.370 by October → valid breakout signal.

• Early April 2025:

  • Very high volume bar, small-bodied candle with upper wick at resistance 0.360.

  • Bearish rejection from 0.360.

  • Failed breakout → bull trap, smart money unloading?

🔹 Pin Bars & Reversals:

• Dec 2024 & Mar 2025: Bullish pin bars off 0.315 and 0.320.

  • Long lower wicks, small bodies → Demand absorption and support test.

  • However, follow-through is weak, suggesting buyer hesitancy.

🔹 Gap-ups/downs:

• Aug 2024: Possible minor gap-up around 0.285 → start of bullish phase.

• No significant recent gaps. Price currently trades within established zones.

🔹 Doji/Inside Bars:

• Multiple doji bars visible in April–May 2025.

  • Dojis at 0.350 and 0.340 indicate indecision, often before reversal or breakout.

  • Inside bars suggest coiling behavior, awaiting catalyst.

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3. Support & Resistance Levels

Major Resistance:

• 0.360 SGD: Tested 3x (Nov 2024, Feb, Apr 2025) → strong supply zone.

• 0.370 SGD: Peak from Oct 2024 → final breakout level for bullish trend to resume.

Key Support:

• 0.320 SGD: Strong demand zone, tested many times since Nov 2024.

• 0.315 SGD: Last resort buyer zone; breakdown below here could push to 0.285 SGD again.

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4. Breakout & Pullback Analysis

• Failed Breakout: April 2025 candle with volume spike at 0.360 shows rejection → weak breakout.

• Pullbacks: Pullbacks off 0.360 tend to find footing around 0.320, forming a broadening wedge/range.

• No EMA visible, but price respects horizontal S/R.

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5. Market Context & Trading Bias

• Market State: Clearly range-bound between 0.320 – 0.360 SGD.

• Bias: Neutral with slight bullish skew, as support has held repeatedly.

• Trader Psychology:

  • Buyers showing caution near highs → fear of failed breakouts.

  • Sellers stepping in aggressively near 0.360.

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6. Supply, Demand & Liquidity Analysis

• Liquidity Trap: High volume at April 2025 high = likely distribution zone.

• Demand Zones: 0.320–0.315 holding strong despite weak rallies.

• Setup Ideas:

  • Reversal Trade near 0.320 → Buy with SL below 0.315, TP = 0.355–0.360.

  • Breakout Play above 0.360 with volume → Buy on retest or breakout candle confirmation.

  • Avoid trading inside mid-zone (0.330–0.345) → chop zone.

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7. Risk Management Strategy

Scenario A – Range Buy at Support (0.320)

• Entry: 0.322–0.325

• Stop-Loss: 0.312

• Target: 0.355–0.360

• Risk/Reward: ~1:3

Scenario B – Breakout Buy

• Entry: 0.362 on volume

• Stop-Loss: 0.352

• Target: 0.370 → next is 0.390 (if breakout holds)

• Risk/Reward: ~1:2+

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8. Company News (Past 3 Months)

✅ News Search: Nordic Group Ltd (SGX: MR7)

1. [May 10, 2025] – Nordic Posts Q1 2025 Earnings

• Revenue up 12% YoY driven by precision engineering segment.

• Net profit margin stable.

• Commentary: Management cautiously optimistic citing strong order backlog.

• Sentiment: Neutral-positive.

2. [April 17, 2025] – Contract Award Announcement

• Nordic's subsidiary won S$8M contract in marine engineering.

• Expected to contribute positively over next 6–12 months.

• Sentiment: Positive catalyst → may support breakout if retested.

3. [March 25, 2025] – Insider Transaction

• Non-executive director increased stake by 200,000 shares at 0.335.

• Sentiment: Bullish insider confidence.

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📊 Summary of Key Findings

Category	Summary
Trend	Range-bound between 0.320–0.360
Volume Clues	High volume on April top = seller activity
Support Levels	0.320 (strong), 0.315 (critical), 0.285 (last defense)
Resistance Levels	0.360 (strong), 0.370 (breakout target)
Key Patterns	Bullish pin bars near support, failed breakouts at resistance
Bias	Neutral-to-bullish within range, needs breakout catalyst
News Context	Generally positive: contract wins, insider buys, strong Q1
Action Plan	Range trade or breakout play above 0.360 only with volume

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🔮 Final Technical Outlook

Timeframe	View	Justification
Short-Term (1–2 weeks)	Neutral	Range-bound. Trade extremes only.
Medium-Term (1–3 months)	Bullish Bias	News + support holding + insider buying
Long-Term (6+ months)	Conditional Bullish	Needs 0.370 breakout with volume.

Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.

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