On Monday, Swiber trend upwards and closed at $0.66 with HIGH volume of 5.083 million shares traded.
RSI & MACD are bullish though RSI in overbought region.
Immediate Resistance of Swiber: $0.67
Immediate Support of Swiber: $0.635
Currently prices are well above the 20/50/100/200 days MA.
Today Swiber continue to rally with heavy buying pressure but the short lower shadow indicate the slight profit taking.
The resistance at $0.67 is expected to be strong.
We would not suggest to buy now as RSI near overbought region and Swiber has been rally with high buying pressure for the past 4 trading session. Possible of pull back will be much higher at this stage.
Singapore Technologies (ST) Electronics landed a raft of contracts for rail electronics, intelligent transportation, satellite communications (Satcom) and smart utility projects in the fourth quarter of 2012 totalling S$192 million.