Thursday, November 29, 2012
Sunvic (technical)
Sunvic: OCBC Technicals says a key resistance has been conquered, and the counter could see further recovery after initiating a bullish break above its $0.385 key resistance on heavy volume.
Notes MACD has also just initiated a bullish crossover; this suggests that the upside momentum is building up now.
Tips the counter is likely to head higher towards the next key obstacle at $0.465 (key support-turned-resistance) in the weeks ahead.
Advocates a stop-loss exit around $0.36, which is slightly below the newly established resistance-turned-support of $0.385.
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