Thursday, January 12, 2012


CMA: UOB Kay Hian has Technical Buy Call with 9% potential return and $1.30 TP. House note that stock has broken out of the first downtrend resistance line in the last trading session
with comparatively high trading vol. A reversal is likely to be denoted by the morning star candlestick pattern and prices are likely to trade higher for now.

The MACD indicator is still trending up and the Stochastics indicator has hooked up, both of which are positive signals. Alternatively, investors may exit their longs if prices move below $1.13.

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