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, 4 April 2017

Sheng Siong

Sheng Siong (OV8): BREAKOUT

Technical Observation:
The stock broke out this morning from its Accumulation zone which lasted 4 months since Dec 16. Selling Climax was seen in late 2016 with higher than normal volume. Also, Momentum (MACD) forming a bullish “Head and Shoulders” reversal Pattern, These observations provides adequate indications that the downtrend has likely to bottomed, coupled with the 4 months accumulation and breakout, we are likely to see the stock mark from current trading range.

Probable Trade Plan as follows.
Target Price   : S$1.10
Current Price : S$0.985
Stop Price      : S$0.945
R/R Ratio       : 2.88x