Date: October 10, 2024
Broker: CGS International Securities Pte. Ltd.
Company Overview
iFAST Corporation Ltd. operates a funds and investments distribution platform across the Asia-Pacific region. The company has shown robust performance and has been highlighted for its strong price action and technical indicators.
Recent Performance
iFAST Corp has gained more than 10% in value based on the previous trendspotter report from April 29, 2024. This gain demonstrates the company’s ongoing positive momentum.
Technical Indicators and Analysis
Several technical indicators suggest a bullish outlook for iFAST Corp, pointing to continued price strength. Key highlights include:
-
Breakout from Range: The stock has broken out of a mid-term rectangle range and remains intact within a long-term uptrend channel.
-
Ichimoku Indicators: The stock’s price is trending above all Ichimoku indicators, signifying strength in the current trend.
-
MACD and Signal Line Crossover: A crossover above the zero line with a positive histogram suggests increasing bullish momentum.
-
Stochastic Oscillator: This indicator has risen above the 20-line, signaling strong price momentum.
-
23-Period Rate of Change (ROC): The ROC has rebounded above the zero line, showing an upward price movement.
-
Directional Movement Index (DMI): The bullish strength signal from the DMI remains valid.
-
Volume Trends: Expanding trading volume supports the positive price action.
Support and Resistance Levels
- Support 1: S$7.62
- Support 2: S$6.46
- Stop Loss: S$6.08
- Resistance 1: S$8.50
- Resistance 2: S$10.06
Target Prices
- Target Price 1: S$8.60
- Target Price 2: S$9.75
- Target Price 3: S$10.00
- Target Price 4: S$10.80
Analyst Contact
Source: CGS International Securities Pte. Ltd.
