Stock with Momentum: Raffles Education

March 18, 2024

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

In this article, we’re spotlighting Raffles Education Ltd (SGX: NR7), whose stock is demonstrating uncommon positive price movement, suggesting a potential upward mean-reversion.

Below are some key highlights from the technical report:

  • Market Position: Raffles Education is designated as a ‘Technical Buy’ at the last price of S$0.051.
  • Entry Prices and Support Levels: Suggested entry prices are S$0.051, and S$0.048, with key supports at S$0.049 and S$0.047.
  • Stop Loss and Resistance Levels: A stop loss is advised at S$0.043, with resistance points at S$0.055 and S$0.065.
  • Target Prices: The analysis sets target prices at S$0.058, S$0.060, S$0.065, and S$0.075.
  • Company Overview: Raffles Education provides vocational and technical training programs and courses, including fashion design, visual communication, multimedia design, and business administration.

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

Take advantage of the stock momentum

Our goal is simple: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re a seasoned investor or just starting out, our analysis is designed to help you navigate the market with confidence.

Please refer to the attached report for the disclaimer.

Chua Wei Ren, CMT

With over 12 years’ experience, Wei Ren is a market strategist who specialises in Technical Analysis and Macro Economics. Leveraging core price action trading strategy with classical technical analysis to spot market movements for entries and exits, he believes that historical data plays a pertinent role in how market prices would impact future trades. Wei Ren also writes for CGSi Trendspotter, a daily market outlook report that aims to identify trading ideas in Singapore, as well as China and Hong Kong’s equity markets. A seasoned presenter, he has been hosting live webinars since the start of his career as a market strategist and has been featured on various mainstream media platforms including The Business Times ‘Chart Point’ and Capital 95.8.

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