|Closing Price:||Last Market Volume:||52 Week Range:|
|$1.155||9.0m shares||$0.82 - $1.36|
Key hurdles conquered. Ezra Holdings is likely to see more upside ahead after rebounding off its lower channel boundary support recently; this was followed by a strong bullish break above its 2-month downtrend resistance and $1.14 key resistance on heavy volume yesterday.
Indicator is bullish. The MACD has just initiated a sharp bullish crossover; this suggests that the upside momentum is building up.
Next resistance at $1.24. The counter could head higher towards the next key obstacle at around $1.24 (key peaks) in the weeks ahead.
Immediate support at $1.14. Meanwhile, we advocate a stop-loss exit at around $1.08, which is slightly below the newly established resistance-turned-support level at $1.14.
Source : OCBC Research