0711 GMT - Nam Cheong's share price is poised to rise further upon a break above the S$0.445 resistance level, based on technical chart, Phillip Securities Research's Zane Aw says in commentary. The share price has been consolidating between S$0.390 and S$0.445, with the previous S$0.390 resistance level at end-November turning into support. This gives a possible bearish-to-bullish reversal signal, the analyst says. The moving average convergence divergence indicator supports this bullish view, with increasing momentum and is presently above the zero line. If the share prices breaches S$0.445, it could retest S$0.495, the swing high formed in mid-October, the analyst adds. Shares are 1.1% lower at S$0.440. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 02:11 ET (07:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.