I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Tuesday, 28 March 2017

Jumbo Group


 JUMBO (42R): SWING TRADE
Commentary:
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