Consolidating for more than a week for from 0.400 to 0.48. Broke out seen today above the immediate resistance at 0.48. Now at 0.49. A break above the 0.500 psychological resistance can see it find a new high before consolidating, perhaps from 0.54 to 0.600. Top 10 volume seen currently. Announced On 4th Feb 2013 - “”Rowsley Ltd has signed sale and purchase agreements to acquire RSP Architects Planners & Engineers and a 9.23-hectare plot of land in Iskandar Malaysia for S$545m in total, in an all-share deal as part of a reverse takeover intended to transform Rowsley into a property player.””
Stop loss at 0.465.
Monitor closely Skyone. Currently testing 0.38 resistance level which it has been below for about 2 weeks. Today’s high is 0.38. Recent high was 0.47 on the 13TH Feb 2013 which has since sold down and consolidating currently. A break above 0.38 can see it test 0.400 in the near term. Near term support currently at 0.36 which it has stayed above for about 2 weeks already. Can consider a potential trade setup on the breakout of 0.38 and 0.400 psychological resistance level. Top 30 volume seen currently.
Stop loss at 0.355.