Boustead Projects (AVM): Potential Mark Up
Boustead Projects (BP) traded with daily wide fluctuations in a low liquidity environment between 0.70-0.80 (re-accumulation zone) before experience a Mark Up in late March 2017. Currently, BP is trading again in a Re-accumulation zone between 0.85-0.90.
We are seeing increased in trading activity (volume) in the past few trading sessions which may signals a potential Mark Up again towards the 1.00 level.
Agressive traders may consider current level. More conservative traders may wait for a Line Change at 0.905.
The company will be announcing its FY2017 results after Market Closed on 22 May 2017.
Probable Trade Set-up:
E: S$0.88 / 0.905
R/R Ratio: 3.43x / 1.58x