Stock with Momentum: Parkson Retail Asia

July 3, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we analyze Parkson Retail Asia Ltd (SGX: O9E) because its price action indicates a bullish trend that is likely to continue.

Below are some key highlights from the technical report:

Parkson Retail Asia Ltd

Market Position: Parkson Retail Asia is designated as a ‘Technical Buy’. The stock has created a pattern of higher highs and higher lows after breaking above a one-year descending wedge.

Entry Prices and Support Levels: Recommended entry points are at S$0.081, S$0.075, and S$0.068, with support levels established at S$0.074 and S$0.062.

Stop Loss and Resistance Levels: To safeguard investments, a stop loss has been advised at S$0.061. The resistance levels identified are at S$0.090 and S$0.113.

Target Prices: Target prices are set at S$0.090, S$0.100, S$0.110, and S$0.130.

Company Overview: Parkson Retail Asia is a Southeast Asia-based department store operator with stores across Malaysia, Vietnam, and Indonesia. The stores offer a wide range of branded products.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock momentum.

Our goal is straightforward: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.

Please refer to the attached report for the disclaimer.