MUST WATCH COUNTERS – 15 January 2016
1- GCB (5102) – Positive Momentum
As of 14 January 2016, GCB has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. In addition, the price just broke the resistance of 1.55 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.
Short-term TP : 1.80 Longer-term TP : 4.00
GCB-WA - Short-term TP : 0.35 (The warrant maturity - 16 Feb 2016 Exercise Price : 1.34; Theoritically if GCB is 1.56 than warrant price 156-1.34 = 0.22)
Thus warrant price should be arbitrage to 0.22. Thursday close only 0.195
If GCB TP is met at 1.80 then warrant price should be 1.80 - 1.34 = 0.46
if you opt to trade warrant as most punters do because it is cheaper; need to watch closely the movement of the mother GCB. Every cent change in the mother price should also be reflected in the warrant price.
2- SCNWOLF (7239) – Positive Momentum
An important development took place on 14 January 2016 where the price of SCNWOLF broke the resistance of 0.37. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout. Immediate resistance 0.46
Short-term TP : 0.50
3- KOMARK (7017) – Positive Momentum
KOMARK has been trading above its upward sloping 20-Day Moving Average which is a good sign. This has brought the price near to the resistance of 0.762 where we expect a good fight between the bulls and the bears. For the upside to continue, the resistance needs to be broken conclusively, preferably with high volume. The RSI indicator is giving a reading in the overbought region. While this is expected given the recent upward movement, it also gives a warning that the current movement may be over-extended.
Short-term TP : 0.90
4- SUPERMX (7106) – Expected Reversal Trend
As of 14 January 2016, SUPERMX has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. The recent upward movement has pushed the price to be quite far from the support level of 3.125 ; immediate resistance 3.56.
Mid-term TP-5.00
HAPPY TRADING & GOOD LUCK
BURSAMASTER
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