• Prices appears to be holding steady above the S$0.17 mark after hitting a high of S$0.26 back
in April. The recent sideways movement looks corrective, and suggests that there is likely one
more leg higher once this consolidation ends.
• MACD has now returned to the zero line without breaking below and the RSI is also holding
above the 40-pts mark. Both indicators support the view that the uptrend is likely not over and
this is only a consolidation period.
• Aggressive traders may want to go long here with a stop placed below the recent low of
S$0.185. Anything below the said low is negative for the stock. We expect the stock to kick on
higher and a breakout above S$0.225 would likely send prices higher to test the triangle
resistance at S$0.25.
Support seems weak. Only consolidation is that the Sampoerna family had accumulated big time in recent months. Now cannot touch becos in black out period before announcement of 2Q results. If it is a good jump in profit, the stock will be seen in a new light by the market. At 19 cents , still below accumulation price of Sampoerna. Downside looks limited.
The closing price is worth of a 4-D bet : very swee swee.. 19.9 cents. Hopefully the 2Q profit will be strong and then the stock will reward those who have gotten in at this level.
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