The 50- and 100-day moving averages have made positive signals as they start to move apart. The STI’s annual and 24-month momentum indicators continue to rise. The upside of 3,500 from the break above 3,350 remains valid.
Falcon Energy (9.6 cents) poised for a breakout
Volume picked up considerably in the past four weeks as the 50- and 100-day moving averages performed a golden cross, and quarterly momentum turned positive. Prices are now challenging the 200-day moving average at 9.35 cents.
A breakout is imminent as short term stochastics is just turning up, ADX is neutral and the DIs are positively placed, The impending breakout looks likely to be accompanied by volume surge. The breakout indicates a target of 15 cents.
Sembcorp Marine ($1.97) establishes uptrend
Both prices and quarterly momentum have formed an uptrend. An earlier break above $1.80 indicated a target of $2.10. This is on track and is likely to be a minimum price objective. Immediate support is at hand, at $1.95 to $1.97. Prices should resume their uptrend shortly.
