Global Logistic after hitting the low of $1.605 on 16th Feb 2016 and had been able to stage a strong recovery to hit $1.93 on 7th Mar 2016. This is rather bullish.
The current price of $1.895 is hovering above the SMA lines which is generally rather positive.
Also both Macd & Rsi are still trending upwards which may provide further indication that the share price may continue to head higher.
A strong breaking out of $1.93 with good volume that may propel to drive the share price higher towards $1.98. From the chart you can notice that $1.98 is quite a strong overhead resistance which may be quite difficult/challenge for it to break-through.
If it able to breakout $1.98 convincingly then perhaps it may head higher towards $2.16.
Due to STI market has been up for the past few weeks. I think it is overdue for a correction. Therefore , be on extra cautious to set your cut-loss price if a major correction has really happened.
(trade base on your own decision)
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