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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