Stocks with Momentum: Singapore Exchange and Broadway Industrial Group

May 23, 2024

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

In this article, we focus on Singapore Exchange Ltd (SGX: S68), which seems likely to bounce back up in price, and Broadway Industrial Group Ltd (SGX: B69), which is showing signs that its price may continue rising.

Below are some key highlights from the technical reports:

Singapore Exchange Ltd 

  • Market Position: Singapore Exchange is designated as a ‘Technical Buy’ because its price action shows bullish sentiment.
  • Entry Prices and Support Levels: Recommended entry points are at S$9.45, S$9.26, and S$9.10, with support levels established at S$9.30 and S$9.00.
  • Stop Loss and Resistance Levels: To safeguard investments, a stop loss has been advised at S$8.85. The resistance levels identified are at S$9.49 and S$9.85.
  • Target Prices: Target prices are set at S$9.90, S$10.10, S$10.20, and S$10.56.
  • Company Overview: Singapore Exchange owns and operates Singapore’s securities and derivatives exchange and their related clearing houses.

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

Broadway Industrial Group Ltd 

  • Market Position: Broadway Industrial is designated as a ‘Technical Buy’ because its price action has shown strong signs of bullish recovery.
  • Entry Prices and Support Levels: Recommended entry points are at S$0.16, S$0.14, and S$0.13, with support levels established at S$0.14 and S$0.115.
  • Stop Loss and Resistance Levels: To safeguard investments, a stop loss has been advised at S$0.110. The resistance levels identified are at S$0.172 and S$0.215.
  • Target Prices: Target prices are set at S$0.190, S$0.215, S$0.220, and S$0.240.
  • Company Overview: Broadway Industrial manufactures and distributes precision machined components.

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.