Falcon Energy: OCBC sees double bottom bullish reversal stock pattern, tips further recovery following the strong bullish breaks above the 200-DMA and $0.26 key resistance on significant volume yday. Notes MACD is still climbing steadily, which suggests momentum is building up.
Expects the counter to climb towards the initial resistance at $0.35 (peak in Jul ’11) in the wks ahead, with the subsequent resistance pegged at $0.42. Notes immediate support at $0.26, with stop-loss exit around $0.24.
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