Tuesday 22 October 2013

Singapore Stock Tip: OSIM reached our target of $2.17!

Dear Friends,

I did issued a call on OSIM saying that breaking out of $2 seems likely. My 2nd target price is $2.17-$2.20.


Of course, for this case, we did not get the timing perfectly right as it did retrace back to $1.89 before penetrating the $2 resistance. It went straight to our target of $2.17 in a few days. The reason for the retracement is the debt ceiling and govt shutdown worry.

But as I always say, if you select a strong fundamental stock, it should always come back. And although we may be stopped out at $1.95 amid the drop, I will always be looking to buy back at $1.95 when it comes back up.

However I think now, it deserves a rest, at least consolidate for a while before moving again. If you are in short term, today will be a good exit point.

If it breaks off $2.20, it needs to rest for quite a while between $2.21-$2.29.


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