Tuesday, January 15, 2013

Trading Buy: Sheng Siong - Share price 0.61

Sheng Siong has formed a new high by breaking out above the 0.575 level it set on 1ST Sep 2011. Currently at 0.61 level, has crossed above psychological resistance level at 0.600.. As long as 0.600 remains as the new support, upside to find a new resistance is possible, probably from 0.65 to 0.70 level.  Overall defensive counter which needs to be held a while. Not for contra trades.
Stop loss at 0.58.


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