Jumbo Group

On 21st March, Jumbo Group announced that it has entered into a JV, opening its first seafood restaurant in Beijing, China. Overseas expansion has been well executed, with recent expansion in Vietnam, announced in January, earlier this year.

Technical Observations:
Technically, we saw the stock marked up to a new high of S$0.78. And there is high probability that the stock is entering into a re-accumulation phase. This is in view that the stock continues to make new high (S$0.78) with support holding well at S$0.68 zone. Making new high with supporting holding are Sign of Strength that traders should lookout for in a uptrend

In addition, the MACD bullish crossover translates as a possible change in momentum. Traders can consider taking a swing trade within the re-accumulation zone.

Probable Trading plan as follows:
EP: S$0.700
SL: S$0.665
TP: S$0.780
Risk/Reward: 2.28x

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