Trade of the Day – Seatrium Ltd (SGX: S51) July 11, 2023 294
Trade of the Day
Seatrium Ltd (SGX: S51)
(Current Price: S$0.130) – TECHNICAL BUY
Buy price: S$0.127 Stop loss: S$0.122
Take profit 1: S$0.138 Take profit 2: S$0.148
The price found support upon retest of the uptrend channel support and broke out of a bullish cup & handle formation on 10th July.
The price could continue its bullish momentum by heading to the first resistance level at S$0.138 to retest the swing high formed in February this year. It could then head to the next resistance level at S$0.148, confluent with the strong horizontal resistance level formed in December last year and February this year, as well as the uptrend channel resistance.
Expected timeline of the trade is 4-12 weeks from the date of report issuance.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!
Featuring regular TA posts and requests to analyse specific stocksAbout the author
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).