Raffles Medical Poised for Mark Up

Raffles Medical (BSL) - Poised for Mark Up

On the technicals, the stock has build up a base and broke above the base's resistance line, the bullish action provided technical evidence that the stock is expected to trade higher with near term 1st target price at S$1.19 and 2nd target at S$1.29.

The healthcare service provider recently announced earnings with full year net profit increase and a surprise raise in dividend payout.

With its new hospitals in opening in China later x(second half) this year and in 2H19. Though with new openings, we may see increased in expenses incurred in the coming quarters but future earnings looks promising. With its technical observations, we may have seen the low for the above stock.

Following is a research report from UOB KayHian research team.

Research Report Link:
https://research.uobkayhian.com/content_download.jsp?id=44060&h=25851845bd6a3cbf79e4341c1f6baa59

Wyckoff's Law of Effort

Law of Effort Wyckoff's Law of Effort states that on any single trading day (or week depending on time frame), huge volume (effort) push by participants should see huge price movement, resulting in a wide spread (long body). This is a basic principle of effort and result. However, as per Singtel's case study, we saw huge selling volume on 11 May, yet the price action only shows a narrow spread (small body). This divergence of effort and result in Wyckoff's Law of Effort principles, indicates possible exhaustion in selling or hidden buying. Thus, with a lack of weakness, Singtel should continue trading range bound for the coming days or weeks till further strength or weakness is observed. Swing Traders who trades range can consider positions at 3.70-3.72, with exit target 3.76-3.78.

DBS Group Holdings (D05): Upward Move Expectations

DBS Group Holdings (D05) Upward Move Expectations Technically, price trading above 36.58, could see DBS Group retest previous high of 38.55. Both Relative Strength and momentum indicator FFI are supportive of the move. Stop below 35.42 Disclaimers apply

Keppel DC REIT (AJBU): Expect price to trade towards S$2.00

Keppel DC REIT (AJBU) Expect price to trade towards S$2.00 We have observed a decrease in technical supply at the S$1.80 support area during recent trading sessions. Furthermore, a softer interest rate outlook could be advantageous for the Data Centre operator. Consequently, we anticipate the REIT to move towards our initial target of S$2.00, with the potential to reach S$2.20 if it breaks through resistance. Our stop level is set below S$1.72. Disclaimers Apply

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