Mermaid

Mermaid: OCBC has Technical Buy Call with $0.50 TP. Note that Mermaid is likely to see further recovery after initiating a sharp bullish break above the $0.42 key resistance on heavy trading volume in the last session. Indicator still bullish. The MACD is still climbing higher at the moment, suggesting that the upside momentum remains intact. Target price at $0.50. The counter could recover further towards the next key resistance at $0.50 (key peaks) in the weeks ahead. Stop loss level at $0.40.