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Traders' Corner - Pacc Offshore Services Holdings, Hankore Environment & SMRT Corp

Shared By StockFanatic on Tuesday, September 2, 2014 | 2.9.14

Daily Chart
Pacc Offshore Services Holdings (POSH SP, U6C)
Technical BUY with 10.1% potential return
Last price: S$0.935
Target price: S$1.03
Protective stop: S$0.92

BUY with a target price of S$1.03 with protective stops placed at S$0.92. The stock has formed a low of S$0.93 and subsequently formed a bullish Harami pattern which has been followed by a potential bullish gravestone doji. Watch to see if there is a follow-through of the said pattern, and if so, the 14-day Stochastic indicator could move out of its oversold region and the MACD histogram could move above its centerline.

Expected timeframe: 2 weeks to 1 month

HanKore Environment (BIOT SP, U9E)
Technical SELL with 14.4% potential return
Last price: S$0.865
Target price: S$0.74
Protective stop: S$0.93

Daily Chart
SELL with a target price of S$0.74 with protective stops placed at S$0.93. The stock could see further downside after it was resisted by its declining 50-day EMA. In the last trading session, the stock has closed below its 20-day EMA. Watch to see if the MACD indicator could hook down as the 21-day Stochastic indicator could turn down further after touching the overbought region.

Expected timeframe: 2 weeks to 1 month

Our retail research has a fundamental SELL with a target price of S$0.74.

SMRT Corp (MRT SP, S53) 
Technical BUY with 10.1% potential return
Last price: S$1.58
Target price: S$1.74
Protective stop: S$1.47

Daily Chart
BUY with a target price of S$1.74 with protective stops placed at S$1.47. The stock appears to have formed a false break below its 35-day EMA and subsequently has recovered to trade above S$1.56 which was the previous immediate support level. Watch to see if the stock could trade above its immediate resistance level at S$1.66 and the 35-day EMA could hook above the 60-day EMA instead as its MACD indicator looks poised to form a bullish crossover near the centerline.

Expected timeframe: 2 months

Our institutional research has a fundamental HOLD with a target price of S$1.53.

Source : UOB KayHian Research


Posted on Tuesday, September 2, 2014 | 2.9.14
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