Trading buy range: S$2.62-2.63
Last price: S$2.64
Target price: S$2.92
Protective stop: S$2.53
The price decline was halted at the middle Bollinger band, aka the 20MA, coinciding with the Fibonacci 62% correction point. The MACD is rising towards the zero line after the bullish crossover. These could increase chances of the stock price rebounding to move higher.
The potential upside target is S$2.92. Stop-loss could be placed at S$2.53.
Approximate timeframe on average: 1-2 weeks (initiate this trade idea if the stock hits the entry price range within three trading days)
Our institutional research has a fundamental BUY and target price of S$3.02.