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Straits Times 3,032.28 +5.29 +0.17%
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World Precision Rallies To 52-week High; Base Building To Guide Direction
Trend Spotting | 05 June 2011
Related stocks:
B49
By: Soh Tiong Hum
Articles (84) Profile

Amidst a side-way consolidation in the Straits Times Index, it is heartening to find a counter that has made three 52-week highs in the past 6 months. Indeed, World Precision is still staying close to its 52-week high of $0.725 when it closed at $0.67 on Friday.

Investors need not rush headlong. Precedence shows that the best rallies take place after consolidation.

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Consolidation bases take time to build but lead to bigger price gains
Consolidation bases take time to build but lead to bigger price gains

On the other hand, price is also fast approaching a zone between $0.735 and $0.77. This zone is created by the 52-weeks high of 2006 and the all-time high in 2007. When price reaches this zone, early bulls might be taking profit.

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The rally is steep but approaching psychological levels soon
The rally is steep but approaching psychological levels soon

Soh Tiong Hum is a regular contributor to Sharesinv.com. Tiong Hum can also be found and followed on Google+

Please click here for more information about this author.

World Precision Machinery  -- -- --   
Business: Co is a mfr of stamping machines and related components - mfr both conventional & customised stamping machines to suit the needs of a myriad of industries, including automotive, railway and white goods.

Insight: Aug-18, 1H18 revenue jumped 11.2% to Rmb457.6m lar... Read More


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