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Friday, March 17, 2017

Serial System

Serial System - 18th Mar 2017

Serial System has been in a neutral zone for the past 9 months ( June 2016 to Mar 2017) fluctuating within the price range of 13 to 14 cents.


The recent buying activities has been increasing picked up with high volume is mainly attributed to the buying up of share by one of the major share holder.
The buying back started since 10th Mar 2017 with various prices from 14.9 to 16.6 cents.
You may refer to sgx announcement about the share buying back statement.

From TA point of view, it has now crossing over this neutral zone and is gaining strength to trend upwards. This is generally quite bullish.

Last Friday it had a nice follow-through white thrust bar and went up to touch 16.8 cents and closed well at 16.7 cents. Couple with high volume this is generally quite positive.

The immediate resistance is at 16.9/17 cents. Breaking out of 17 cents with ease will be positive to drive the share price higher towards 19.9 cents /20.5 cents.
( trade base on your own decision)

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