Sunday, January 27, 2013

Gaining Steam - Biosensors

[Previous post: Large Caps Gain Steam - SGX, Semb Corp]

Biosensors Gaining Steam

1. Biosensors (Medical equipment)
Biosensors has been posting very steady results for the past 3 years but had fallen out of favour with the investment community in 2012 when its share prices took a tumble to a 2011 low at $1.08. Sell-side research houses still kept their strong rating calls on the stock despite the broader market failing to heed them. Nonetheless, in the start of 2013, Biosensors seem to have gained steam again and could possibly spark the revival of its fortunes to finally match its historical performance and a barometer of the future to come.
  • Large white candlestick this week with almost twice the moving average's volume. Prices almost rallied $0.10, representing a 7% gain. The white candlestick has also overcome key moving averages.
  • MACD - is trending into the positive region with increased positive divergence.
  • RSI (25w) - heading towards 70% levels while just crossing 50%.
  • Long with TP - $1.56 (19% from current levels) expected in 6-7 weeks. If buying pressure still persists in the coming week, expect the stock to breakout to the next level above $1.36. With current bullish indications with room for the stock price to come, it will not come as a surprise if stock price ignores $1.36 and heads for $1.55 region. However, do be warned that the coming week is critical for confidence in the stock breaking through a key resistance level at $1.36.

No comments:

Related Posts Plugin for WordPress, Blogger...