In today’s fast-paced stock market, understanding the subtle cues of technical analysis is crucial for smart investing.
In this article, we highlight Top Glove Corporation Bhd (SGX:BVA), Sembcorp Industries Ltd (SGX:U96), and Japfa Ltd (SGX:UD2), all of which are displaying positive price action.
Key highlights from the technical report:
Top Glove
Market Position: We are adding a ‘technical buy’ on Top Glove as price action is hinting at a bullish break to the upside, with the resistance zone between S$0.360-S$0.375 being tested multiple times.
Entry Prices and Support Levels: Recommended entry points are at S$0.370, S$0.340, and S$0.300, with established support levels at S$0.320 and S$0.260.
Stop Loss and Resistance Levels: To safeguard investments, a stop loss is advised at S$0.285. Identified resistance levels are at S$0.375 and S$0.500.
Target Prices: Set at S$0.450, S$0.550, S$0.600, and S$0.700.
Company Overview: Top Glove manufactures a wide range of latex gloves. The company’s products include latex examination powdered, latex examination powder- free, nitrile examination gloves, soft nitrile examination gloves, vinyl examination gloves, surgical gloves, and other related products.
For a more detailed analysis, click on the link to access the report.
Sembcorp Industries
Market Position: Sembcorp Industries is a ‘technical buy’ because it has completed a major correction and broken above a key resistance level for the second time.
Entry Prices and Support Levels: Recommended entry points are at S$5.50, S$4.98, and S$4.59, with established support levels at S$4.99 and S$4.59.
Stop Loss and Resistance Levels: To safeguard investments, a stop loss is advised at S$4.48. Identified resistance levels are at S$5.67 and S$6.10.
Target Prices: Set at S$5.75, S$6.10, S$6.70, and S$7.50.
Company Overview: Sembcorp Industries provides utilities and integrated services for industrial sites such as power, gas, steam, water, wastewater treatment and other on-site services.
For a more detailed analysis, click on the link to access the report.
Japfa
Market Position: Japfa has a ‘technical buy’ position with bullish trend exceeding our expectations. The stock formed an uptrend channel which started on 23 Oct 2023.
Entry Prices and Support Levels: Recommended entry points are at S$0.415, S$0.380, and S$0.340, with established support levels at S$0.360 and S$0.310.
Stop Loss and Resistance Levels: To safeguard investments, a stop loss is advised at S$0.315. Identified resistance levels are at S$0.470 and S$0.610.
Target Prices: Set at S$0.500, S$0.550, S$0.600, and S$0.700.
Company Overview: Japfa operates in the agricultural industry. The company breeds and processes chicken, pork and beef, and also operates dairy farms.
For a more detailed analysis, click on the link to access the report.
Take advantage of the stock’s momentum.
Our goal is to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.
Please refer to the attached report for the disclaimer.
