JUMBO (42R): SWING TRADE
On 21st March, Jumbo Group announced that it has entered into a JV, opening its first seafood restaurant in
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