Nam Cheong – will it breakout from its all time high?
October is indeed a month to forget, especially for those who have bought the infamous trio just before they crashed. Within a few sessions, the trio, namely Asiasons, Blumont and LionGold lost an approximate S$8.7b in market value. As a result of such colossal drop in their share prices, it inevitably caused collateral damage to other small to mid cap stocks. However, there are exceptions. An example is Nam Cheong which is trading at the upper end of its five month trading range $0.260-0.295 Chart observations With reference to Chart 1 below, it is evident that Nam Cheong is on the verge of (once again) challenging the six times tested […]