Market Technician

  JUMBO (42R): SWING TRADE Commentary: On 21st March, Jumbo Group announced that it has entered into a JV, opening its first seafood restaurant in Beijing , China . Overseas expansion has been well executed, with recent expansion in Vietnam , announced in January, earlier this year. Technical Observations: Technically, we saw the stock marked up to a new high of S$0.78. And there is high probability that the stock is entering into a re-accumulation phase. This is in view that the stock continues to make new high (S$0.78) with support holding well at S$0.68 zone. Making new high with supporting holding are Sign of Strength that traders should lookout for in a uptrend In addition, the MACD bullish crossover translates as a possible change in momentum. Traders can consider taking a swing trade within the re-accumulation zone. Probable Trading plan as follows: EP: S$0.700 SL: S$0.665 TP: S$0.780 Risk/Reward: 2.28x

  SPH (T39): BREAKOUT Commentary: STI has reached a new 2017 high today, currently trading at 3,161.74 (at point of writing). The bullish momentum may be supported by the stablising global economic conditions. Investors may consider defensive income stocks to gain exposure to the bullish momentum, as such stocks provides dividend support if prices fall back. One stock investors can consider is SPH (T39).    Technical Observation: The stock has been in the mark down phase since mid 2014. Early this year, the mark down halted at S$3.45 amid lower revenue and earnings. This may suggest that the stock's mark down phase has potentially ended and accumulation phase taking place. SPH broke out this morning above the S$3.53 range high. This may suggest that the stock is looking to mark up from current price towards 1st Target: S$3.62, Mark Down Channel Upper Band and potentially 2nd Target: S$3.72, 38.2% retracement from previous high, S$4.15. Stop lost at S$3.445, b...