Wednesday, 4 March 2015

Follow up on Chip Eng Seng

Dear Friends,

We did said that we spotted players momentum in Chip Eng Seng. The last time when we commented it is at $0.91. We said that "short term resistance is at $0.97-$1.00, but i am willing to hold through it"

Last article titled: "Singapore Stock Tip: Chip Eng Seng showing accumulation"
http://www.danielloh.com/2015/01/singapore-stock-tip-chip-eng-seng.html

Indeed, recently this stock retraced from my resistance area. In fact it touched recent high of $0.99 before retracing a bit to $0.96 now. We are right.


However like what I mentioned in our last post, we are willing to hold through this retracement, if there is.

This is a strong fundamental stock. Both from the fundamental and technical perspective, our target of $1.10 is still unwavered.

Rgds
Daniel

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