SATS Ltd (SGX: S58)
(Current Price: S$2.75) – TECHNICAL BUY
Buy price: $2.75 Stop loss: S$2.68 Take profit: S$2.94
The price consolidated within a pennant, with volatility subsiding after the selloff which is seen with contraction of the Bollinger Bands. We are likely to a see an expansion in volatility and a breakout to retest the horizontal resistance at S$2.94 which was a previous support, where it also meets the Ichimoku Cloud resistance currently.
Our institutional research has a fundamental recommendation of ACCUMULATE and target price of S$3.02. Expected timeline of the trade is 1-2 weeks from the date of report issuance.
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