Thursday, 14 August 2014

Stock to Watch - PINEPAC

The retracement which I can interpret as healthy retracement after the recent surged (+35%) from bollinger band breakout. The current price is trying to stay above 20MA which a short term uptrend could be triggered if price able to stand above 20MA with volume kicks in. 
Will the current consolidation be preparing to bring PINEPAC to another new level? The next resistance will be 0.505 which is the 3 years resistance could be potentially breached in the near term and continually to trend higher. Lets watch closely if any bull run of PINEPAC happens in near term.

Target Price = 0.505 (+16%)
Stop Loss = 0.405 (-7%)

Happy Trading !
Trade at your own risk!

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