Biosensors 29 Dec 2014

Haven’t noticed anything good for trade recently.. Probably due to the light trading volume during this festive season. People taking long breaks, away from work, overseas trip. Christmas was last week, and this week we will be welcoming the New Year 2015!

Was watching this Biosensors during the consolidation period, between 2 Dec to 17 Dec.. and I actually missed the chance to post a buy idea for this! Next moment, it goes up.. This is also due to company’s continuing buyback…

Latest buyback was at SGD 0.5525 per share, around S$100K for today.

Now could only wait for any possible retracement before entering..Not wise to chase, as $0.60 seems to be a possible resistance at this moment.

Good unusual volumes since mid December
Counter could be building towards $0.60, which may be a resistance
Counter trading well above 20 days moving average, which was the previous resistance
Look for possible pullback before entering, as Stochastic overbought now

Entry: $0.535
Target price: $0.60
Time frame: 2 weeks – 1 month

Biosensors

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