Dear all
With reference to my technical write-up on Boustead Singapore dated 23 Jun (click HERE), I pointed out that Boustead Singapore seems to be poised for a bullish breakout. It closed at $0.825 on 23 Jun and subsequently jumped 9% to touch an intraday high of $0.900 on 26 Jul. This compares favourably to STI which generated a 4.0% over the same period.
Another stock, Civmec has recently caught my attention due to its chart development which may portend a potential bullish breakout. It closed $0.805 on 8 Sep.
First of all, let’s understand what Civmec does.
Description of Civmec
Based on its FY23 press release, Civmec is an integrated, multi-disciplinary construction and engineering services provider to the Energy, Resources, Infrastructure and Marine & Defence sectors. Headquartered in Henderson, Western Australia, Civmec has regional offices in Newcastle (New South Wales, Australia), Gladstone (Queensland, Australia), and Port Hedland (Western Australia).
The company is listed on the SGX (Singapore SGX:P9D) and the ASX (Australia ASX:CVL). Its core capabilities include heavy engineering,...