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Will The Bulls Continue To Charge In 2010?
 
Singapore

Swissco
 

Given the recent surge in the price of crude oil to a 15-month high of $83 per barrel, commodities and offshore/marine related stocks had been benefiting from this recent revival in the energy market.  The recent price action of Swissco suggests a possible upside revival after spending around four months of consolidation since 26th August 2009. Signals from various indicators are supporting this potential up move. The MACD trend indicator had started to trend upwards above its centerline and a bullish crossover was seen in the Stochastic oscillator as well. Thus a break above its immediate resistance at $0.87 may open up scope for a rally towards the next stronger resistance at $1.00. However failure to hold at its immediate support of $0.80 may see the risk of a correction towards the next support at $0.73.

 
 
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