• The stock has bottomed out temporary at its 52-week low of S$0.055. The current uptrend may persist provided it could penetrate above the rising resistance trend line at S$0.20.
• Indicators are progressing well. MACD is poised for a positive crossover while RSI also hooks up from the oversold territory. A successful breakout from its trend line resistance would result in gap-filling activities at S$0.295.
• Accumulate during technical pullbacks, possibly near its immediate support at S$0.15. Cut loss if prices fall below S$0.14 as next support is weaker at S$0.085 and S$0.05.
Sino-Environment Technology Group Ltd. offers industrial and municipal waste treatment services. The Company treats and manages industrial waste gas and industrial and municipal wastewater.
Celestial Nutrifoods (CENU SP; S$0.12) – BUY
• A base building formation was seen over the past one week. Follow through buying could soon challenge the S$0.145 resistance before rising to test the 23% FR level at S$0.17 (also the 30-day SMA).
• MACD continues to gain strength, suggesting further room on the upside. The RSI also bounces off from the oversold territory, which is a positive sign.
• The current upward rally is likely to continue but intermittent profit taking may cap gains. Only a breakout above S$0.17 would conclude its medium-term downward channel. Support is seen at S$0.10 and S$0.08.
Celestial NutriFoods Limited manufactures and sells soybean based food products such as soybean beverages, soy protein isolate and soybean oil. The company sells its products under Sun Moon Star brand name.
Cosco Corp (COS SP; S$0.82) – BUY
• Yesterday’s rally above its 30-day SMA is a bullish sign. Near term outlook turns positive with immediate resistance seen at its 38% and 50% FR levels at S$0.86 and S$0.92 (measuring from S$1.17 to S$0.67) respectively.
• Technical landscape has improved. MACD has confirmed its golden cross while RSI is rising towards the upper band of the neutral zone.
• Prefer lower entry points, possibly near the $S0.78 support. Cut loss however if prices fall below S$0.73, as it may retest the Oct-08 lows of S$0.605. Investors with greater risk appetite may join the buying bandwagon but stop loss is a must.
Cosco Corp (Singapore) Limited is an investment holding company. The Company owns and operates ships, and provides shipping agency, marine engineering, ship repair, and container depot services. Cosco also trades and invests in properties as well as provides property management and services.
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