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.

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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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