Technical Analysis: Yoma Strategic Limited October 11, 2016 19
Yoma Strategic Ltd – Daily timeframe (Update from 25 Aug 016)
Current Sentiment: Bullish
Support 1: 0.580 Resistance 1: 0.640
Support 2: 0.560 Resistance 2: 0.670
Price corrected further instead after the last update as the 20 and 60 day moving average continued to support price, keeping the uptrend intact. Subsequently, it stayed range bound within the 0.610 range high and 0.585 range low.
The breakout finally occurred on 10/10/16 where price broke above the 0.610 range high with increasing volume suggesting the uptrend is back in gear.
Expect price to trend higher next to test the 0.640 resistance area followed by 0.670.
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Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd
Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.
He is also a regular columnist on The Business Times - every Monday ChartPoint column.
He graduated with a Bachelor of Science in Banking and Finance from University of London.