Strategy:
Traders can look to buy at S$0.13 or a limit buy at a lower price at S$0.12 with a stop loss at S$0.11. The 1st target price will be S$0.15 and the 2nd target price at S$0.17. 3rd target price at S$0.19
Technical snapshot:
Seatrium Ltd upside is ongoing and we are adding on to our buy position based on our previous trendspotter dated 19 April and 17 May based on the key price action pointers below:
- Seatrium has form an ascending triangle, indicating a possible break to the upside.
- Bullish marobozu saw a closure above the 20-SMA of the Bollinger Band.
- MACD saw a crossover near the zero line and both the fast and signal line has risen back above the zero line.
- DM+ is seen rising.