SATS: OCBC technicals says the counter is likely to see further recovery after rebounding off the $2.40 support recently; notes this was followed by a bullish break above the $2.50 key support-turned-resistance on heavy volume earlier this wk.
Adds, with the MACD having just initiated a bullish crossover as well, this suggests that the upside momentum is improving significantly.
Tips the counter to potentially trend higher and test the next key obstacle at $2.74 (key support-turned-resistance) in the weeks ahead.
Notes, immediate support at $2.50, and advocates a stop-loss exit around $2.45.
OCBC currently has a fundamental Hold rating with TP $2.43.
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