Sino Grandness (technical)

Sino Grandness: OCBC Technicals says the counter could see more upside ahead after overcoming its 2-month downtrend resistance recently; this was followed by a bullish break above the $1.30 key resistance on heavy trading volume yesterday. Indicators are turning bullish, with the MACD still climbing steadily towards its centerline, suggesting that the upside momentum is building up now. Tips the counter likely to head towards the $1.60 next key obstacle (key peaks) in the weeks ahead. Advocates a stop-loss exit around $1.24, which is slightly below the newly established resistance-turned-support at $1.30.