Thursday, June 27, 2013

***** Break out of consolidation phase: OKH Global. Share price 0.39.

OKH has been trading from the 0.35 to 0.38 range for about 3 weeks before breaking out above 0.38 today. As its trading history is not really long, not able to see much longer term trend. However, it is good to note that since the 20 DAY MA line (Green Line) formation about 3 weeks ago, it has been trending above it consistently even though markets were a rollercoaster on the downside. Short term upside still intact as long as immediate support at 0.35 holds then 0.34 which is just above the 20 DAY MA line. Currently at an all time high, next psychological resistance to watch is the 0.400 which it has also tested today but failed to break through. Can consider averaging up on this 0.400 breakout with a short term target to 0.45 first.
Stop loss for short term trades at 0.37
News flow: -7 May 2013-  Industrial property developer OKH Holdings begins life as a listed entity today under the name OKH Global, following a S$123.2m reverse takeover of China-based IT solution provider Sinobest Technology.
OKH Global: Award Of JTC Tender Of Land Parcel At Loyang Way For S$61.6 Million - 10 Jun 2013 17:14
OKH Global Ltd. wishes to announce that it has been awarded the tender by JTC Corporation for a 30-year land parcel located at Loyang Way, having an approximate site area of 20,633 square metres at a tender price of S$61,636,000.00...

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