SG - TA Alert - Neptune Orient Lines (02 Mar 2012) - BUY

Stock Name: NOL
Company Name: NEPTUNE ORIENT LINES LIMITED

Research House: OCBC

Price Call: SELL

Target Price: 1.15

TA ALERT! 02 Mar 2012

Neptune Orient Lines - Bullish break suggests further recovery After making a strong rebound at its 200-DMA, 3-month uptrend support and $1.27 resistance-turned-support recently, Neptune Orient Lines has retaken the $1.38 resistance on strong trading volume yesterday and is still trending higher as well this morning. The price action suggests that the counter is now likely to head higher and test the $1.51 key resistance in the weeks ahead. With the MACD also initiated a bullish reversal and is converging bullishly towards the signal line now, it too implies that the upside momentum is improving. Meanwhile, we advocate a stop-loss exit at around $1.35, which is just a tad below the newly established resistance-turned-support of $1.38. Note: Our fundamental SELL rating on NOL and S$1.15 fair value are UNDER REVIEW. Resistances and Supports 2nd resistance $1.65 Gap zone resistance 1st resistance $1.51 Key support-turned-resistance Current Price $1.42 1st support $1.38 Resistance-turned-support 2nd support $1.27 Resistance-turned-support