Tiger Airways: CIMB has Technical Buy Call. Note that despite prices gapping lower, see a completed 5 waves move from the $2.25 high. Coupled with a thrust from a triangle pattern, view this as a terminal move. With prices now hugging the downtrend channel support, believe that stock could be ready for the next move higher.
The high trading vol recently suggests possible selling climax. MACD and RSI also sport a bullish divergence. Recommend Buy now with a stop loss at $0.965, the channel support. This is an opportunity not to be missed. This rebound rally is likely to take prices to close the gap at $1.19 in the near term followed by a test o S$1.55 in the coming mths.
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