Laggard stocks: Chart outlook for ISOTeam, Midas and Sapphire (17 Mar 17)

Notwithstanding the rally in the equity market, there are some stocks which continue to be laggards and are consolidating around their key support areas. If the market continues to stay buoyant, it may be a matter of time before funds rotate to the following laggard stocks, namely ISOTeam, Midas and Sapphire.

1.ISOTeam closed unchanged $0.390. Day range $0.390 – 0.395. Ave analyst: $0.600

ISOTeam has been testing the support area of around $0.375 – 0.390 for the past four days. Short term exponential moving averages (“EMA”) are moving lower with 20D EMA crossing below 50D EMA. It is fortunate that ADX is also moving lower to around 20. Thus, any fall in the share price may be limited. Furthermore, RSI closed at 41 yesterday, near the low of around 40 which was also the low since Jul 2016. MFI is showing bullish …

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