******* Potential Trade Setup: Yoma. Share price 0.83 ( Can the 0.85 resistance hold on for long ? ..... if not, here comes 0.900...........)

Following up from Buy trading call made on 16 September 2013. Yoma has cleared the immediate resistance at 0.82 yesterday after consolidating below it for about a week. Support would now be at 0.82 than 0.800 strongly. As long as 0.82 is a support, a rise toward 0.85 and even 0.900 seems likely. Likely to trade within the 0.82 to 0.85 range within the next few days before more upside can be seen. High set today was 0.855 where a mere 2 lots was done. A convincing break above 0.85, where the 0.855 and 0.86 clears out can be a new potential trade set up for 0.900 near term target. Note that at this level, it is quite a convincing breakup above the 200 DAY MA(Dotted blue line) which can signal an upward reversal.  A break out above 0.900 can pave the way to 0.94 to 0.94 which was the high set in July 2013 before it dipped all the way to 0.700…

Stop loss at 0.79.

 

OCBC - 17 Sept 2013

 

DBSV – 30^TH JULY 2013