• The stock continued to trade below its 30-day SMA. Due to the lack of trading volume, it is quite impossible to find a pattern that suggests a bottom is in. Continue to avoid for now and look for opportunities elsewhere.
• Technical readings on its indicators may look good at the moment but the lack of trading volume means that the stock is susceptible to volatile swings. Hence making it a high risk trade.
• Only the very keen buyers should buy near the S$0.02 support. Otherwise, it is best to sell and continue to stay away. Resistance is at S$0.04 and S$0.06.
Europtronic Group is a manufacturer and distributor of electronic components that are essential in the use of electrical, electronic, and information technology products. The Company produces its own brand of film capacitors at two state of the art factories located in Shenzhen and Suzhou, China.
Foreland Fabrictech Holdings (FLFT SP; S$0.065) – SELL
• From the looks of the chart, the stock is still in its bearish long term downtrend. There was a false breakout in February but the stock quickly fell back into the downtrend channel. This shows that the bulls are not quite ready to carry the stock higher.
• Indicators continue to show weakness with support at yesterday’s low of S$0.05.
• Resistances at S$0.045 and S$0.07 are likely to keep the bulls at bay. Avoid buying until a breakout above its 30-day SMA, which is at S$0.105 right now.
Foreland Fabritech is a vertically integrated manufacturer principally engaged in producing functional and normal fabrics. Its production process includes weaving, dyeing, coating and finishing of fabrics.
Z-Obee Holdings (ZBEE SP; S$0.03) – BUY
• The stock appears to be well supported around current levels but this could be an illusion due to the lack of trading volume. Hence, the breakout of its bullish wedge pattern does not suggest that it is out of the woods just yet.
• Both indicators continue to suggest that the stock is still in consolidation.
• Investors could either wait for the breakout above the S$0.045 resistance to buy or accumulate around the S$0.02 support. Breaching the S$0.045 resistance is positive for the stock with the next resistance at S$0.07. Cut loss if it breaks S$0.015.
Z-Obee is a full-set solutions house that provides complete design services spanning the entire handset design cycle, which involves industrial design, mechanical design, software design, hardware design, procurement of hardware, prototype testing, pilot production and production support.
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