Trade of the Day – ISDN Holdings Ltd (SGX: I07) June 28, 2023 318

Trade of the Day

ISDN Holdings Ltd (SGX: I07)

(Current Price: S$0.515) – TECHNICAL BUY

Buy price: S$0.510     Stop loss: S$0.490   

Take profit 1: S$0.550     Take profit 2: S$0.600

 

 

The price found support upon retest of the previous horizontal resistance turned support at S$0.505.

The price could continue its recent bullish momentum since breaking out of a downtrend resistance line, by heading to the first resistance level at S$0.550 to retest the recent swing high. It could then head to the next resistance level at S$0.600 confluent with the strong horizontal resistance level formed in January-February this year.

Expected timeline of the trade is 4-12 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst
PSR

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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