Japfa (UD2): Potential Mark Up

Technical Observations:
The stock has been on Mark down since Feb 17. However, in mid May we saw likely climatic selling as trading volume hit 5-6 months high. In recent trading, we saw improving volume, whic provides us with technical reasons of a rebound towards the accumulation zone high of S$0.58 with 2nd target at S$0.66.

Probable Trade Set-up:
E: S$0.56
S: S$0.52
T: S$0.58 / S$0.66
R/R Ratio:  0.5x / 2.5x

Disclaimer applies.

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