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.

Monday, 22 May 2017

Boustead Projects

Boustead Projects (AVM): Potential Mark Up

Technical Observations:
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
S: S$0.845
T: S$1.00
R/R Ratio: 3.43x / 1.58x