Friday, February 28, 2014

***********Consolidating before breakout: Memstar..... ( Get ready for the outburst !)

Following up from Previous call seen below in Jan 2014, Memstar has seen consolidated from 0.122 to 0.130 range for the past 2 weeks. Can consider accumulating within this range for any potential breakout above the 0.130 psychological resistance level. Any Break above 0.130 can see it push higher further to find a new high before consolidating again. Supported at 0.122 which also coincides with the 20 DAY Short term MA.
Stop los at 0.117 for long positions before breakout. Average up if the 0.131 clears.

Sent: Wednesday, January 22, 2014 1:01 PM
Subject: ******** Trading BUY: Memstar. Share price 0.114. (Water plays continue to be strong)
Memstar has broken away from consolidation phase above 0.112 at TOP 2 volume. Currently at a new recent high, can continue to push higher to 0.120 in the short term before some retracement in profit taking. Still a positive if it manages to stay above psychological 0.110 support level.
Stop loss at 0.108.
NEWS – 22 Jan 2014
*Memstar: Prominent local investor Alan Wang who runs the high profile fund Asdew Acquisitions purchased another 9m shares @ $0.106 on 20 Jan, raising his stake to 7.3% from 6.97%.

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