Thursday, August 23, 2012
Sakari Resources: UOB KayHian tips the stock chart as a technical at Buy with $1.70 target. Highlights the stock appears to be staging a strong rebound at its mid Bollinger band or near $1.40, a level to hold for further upside. Notes its 20-day moving average looks poised to cross above its 50-day moving average and a break above $1.57 is likely to result in this target being achieved. It recommends watching for possible bullish crossovers on its MACD and stochastics indicators. Stops could be placed below $1.39. The stock is up 1.7% to $1.505 on solid volume.