Earlier this morning, Nam Cheong announced that it secured sale contracts for 2 accommodation work barges with a total value worth US$84 million.
On the technical side, counter has been moving up trend for more than a year, as seen from the 20 days, 50 days and 200 days moving averages. Look out for the MACD crossover in days to come while the Stochastic signals show that it is out of the oversold region. Bollinger band poised to form a squeeze and a breakout is likely happen after that. Immediate support can be found at $0.38.