United Envirotech – Technical SELL with +13.5% potential return
Last price: S$0.63
Resistance: S$0.66
Support: S$0.545
SELL with a target price of S$0.545 with stops placed above S$0.66. The stock is likely to retreat further towards its potential resistance-turned-support level as prices have fallen after forming a bearish doji earlier. Its RSI indicator, which has been hovering in the overbought region, has turned down. Watch to see whether its MACD indicator could form a bearish crossover.
Tiger Airways Holdings – Technical BUY with +14.5% potential return
Last price: S$0.765
Resistance: S$0.85
Support: S$0.74
BUY with a target price of S$0.85 with tight stops placed below S$0.74. The stock has closed above its mid Bollinger band and appears to be forming higher lows. Watch to see whether a golden cross could be formed and whether its Stochastics and MACD indicators could form a bullish crossover respectively. Our institutional research has a fundamental SELL with a target price of S$0.63.
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