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Technical Outlook (Hyflux; First Resources)
Corporate Digest | 12 September 2012
Related stocks:
600
EB5

Written By: Andy Yew

Hyflux is currently trading around $1.39. This price is above both the 10-day simple moving average (SMA) and 20-day SMA. Will there be a breakout soon? Since early July 2012, the chart of Hyflux has been forming a Symmetrical Triangle chart pattern after having a few lower highs and higher lows. This price pattern is normally due to indecision of direction. However a Symmetrical Triangle is normally traded as a continuous pattern. The previous trend before the triangle pattern occured was an uptrend. Hence if there is a breakout off the resistance line (above 1.41) we might see this stock having the strength to move higher. Resistance level can be seen at $1.41, Support can be seen at $1.34.

First Resources has been running on an uptrend since June. Now the price has broken out off the supporting uptrend line. Will this be the turning point from an uptrend to a downtrend? Currently, the 10-day SMA is pointing downwards and the price is below the 10-day SMA, showing that this stock has been down for a few days. However, both the price and the 10-day SMA is still above the 50-day SMA. This means that in the midterm, First Resources is still supported. If this stock turns bullish, one might consider to go long when the price moves back into the uptrend channel. Support is currently at $2.00.

For more information on related posts by this author, please visit www.andy-yew.com.

Hyflux  -- -- --   
Business: Provides integrated water management & environmental solutions. [FY17 Turnover] Municipal (82.5%), industrial (16%), others (1.5%).

Insight: Mar-19, 9M18 revenue sank 75% due to lower enginee... Read More
First Resources  1.620 +0.030 +1.89%   
Business: Co engages in the cultivation and maintenance of oil palm plantations. [FY18 Turnover] Refinery and processing (95.5%), plantations & palm oil mill (4.5%).

Insight: Feb-19, FY18 revenue dipped 2.1% due to lower aver... Read More


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