Trade of the Day – Del Monte Pacific Ltd (SGX: D03) April 13, 2023 370

Trade of the Day

Del Monte Pacific Ltd (SGX: D03)

(Current Price: S$0.240) – TECHNICAL BUY

Buy price: S$0.240     Stop loss: S$0.230    

Take profit 1: S$0.275     Take profit 2: S$0.290



The price found support at the downtrend channel support, with selling pressure easing as price started to trade sideways. The Relative Strength Index (RSI) technical indicator is also showing bullish divergence on both daily and weekly timeframes, where higher lows were made while price made lower lows into the support.


The price could rebound in the current downtrend to test the first resistance level at S$0.275, which was a previous swing low support level in October last year now turned resistance.


It could then head to the next resistance level at S$0.290, confluent with a 50% Fibonacci retracement level using the swing high of S$0.350 and swing low of S$0.230 as points of reference.

Expected timeline of the trade is 4-8 weeks from the date of report issuance.

Our research team has a fundamental recommendation of ‘BUY’ for this counter and a target price of S$0.400.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

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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