Wednesday, February 18, 2009

SP Ausnet – BUY


The stock broke out of its long term downtrend channel recently and has been climbing to current levels.

Its MACD is losing momentum while RSI has hooked below its support.

The resistance at S$1.07 and S$1.16 would continue to be tough to break now. Aggressive buyers should wait for a pullback, to close to its S$0.99 support before getting in. Cut losses if the price falls below S$0.975.

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