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NetLink NBN Trust (CJLU): Regaining Technical Momentum After Consolidation

 


NetLink NBN Trust (CJLU): Regaining Technical Momentum After Consolidation

The technical momentum indicates that NetLink NBN Trust is transitioning from an Accumulation phase to a Markup phase, with targets set at S$0.94, 0.99, and 1.04. Price action and volume suggest that strong hands are in control, absorbing supply and preparing for a potential bullish move.

The stock's relative strength is above zero, implying that it is outperforming the market index (STI), which suggests increased demand. Additionally, the volume-based indicator, FFI, has made a similar upward move, indicating a potential increase in demand for the stock.

For risk management, a stop below S$0.98 would invalidate this analysis.

Disclaimers apply.

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