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CWT: Will It Continue The Uptrend?
Trend Spotting | 12 July 2013
By: Robin Han
Articles (102) Profile

CWT has been dropping since late May following the severe fall in the Straits Times Index (STI).

However, the stock has recently showed some strength and turned uptrend. Notably, it broke above the resistance trend line before the STI and is forming a nice breakout. This stock is stronger than the STI and is likely to remain in uptrend. One may consider buying on weakness when CWT pull back, and expect it to resume its uptrend and go up further.

The firm released its first quarter financial report on 14 May. Therefore, the firm is not likely to have short term volatility from the release of report in the next few months. For the first quarter, CWT’s revenue and net profit increased 38.8 percent and 2.3 percent respectively. The fundamental side of this stock also makes it a low risk trade to consider.

Daily Chart Of CWT

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.


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