Wednesday, June 14, 2017

IS THIS STOCK POISED FOR A SUPER RALLY NEXT?

Japfa stock
Ever since breaking its support of $0.80, JAPFA stock has since reached a 52-weeks low of $0.525. Therafter, Japfa stock since to form a base of $0.54 and on 9 Jun 2017 and 12 Jun 2017, Japfa stock price has headed north successively, accompanied by large volume. Looking at the technical charts, I like how the moving-averages (5DMA,10DMA and 20DMA) have converged on the upside and seem ready to test the 50DMA. Japfa stock closed at $0.59 on 13 Jun 2017.
In a DBS report of 28 Apr 2017, DBS maintained a “Buy” for Japfa with a target price of $0.84, which represented more than 40% from the current stock price. In a more recent analyst report by CIMB dated 2 May 2017, CIMB maintained its Reduce call on Japfa with a target price of $0.58. Whatever the case, there is no denying that Japfa stock movement seems rather bullish these days and the stock might be poised for a rally next. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

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