BURSAMASTER BULLSEYE
BURSAMASTER'S PICK : 1 JUN 2016
BURSAMASTER BULLSEYE
Publish date: Tue, 31 May 2016, 07:49 PM
BURSAMASTER BULLSEYE
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A platform for dissemination of stock market information, leads, analysis & tips
BURSAMASTER'S PICK : 1 JUN 2016
1. AZRB : POSITIVE MOMENTUM OBSERVED.
Today we witnessed two Resistance breakouts at 0.70 & 0.71 with increased volume. AZRB closed at its high for the day 0.72.
Going forward, if it can break its next important resistance of 0.74 tomorrow, then a minor resistance at 0.765 will not be of much problem.
AZRB will have its AGM tomorrow with some goodies anticipated. Further there will be an Analyst & Fund Managers briefing late morning. I believe, with positive newsflow expected, local & foreign funds should snap up the shares.
2. PMETAL : A reversal pattern was seen today from a ĺow of 2.84, the counter maďe a high of 3.02 before closing at 2.97.
Let's see whether tomorrow it can breach the 3.00 level conclusively with its next resistance at 3.20.
3. SGB : After the recent sell down from a high of 1.20 to below 0.60; it was observed that the level of 0.58 was well supported & there is an indication that it should retest its next resistance of 0.64 n 0.685 soon.
Please observe market parameters before making your trading & investment decisions as the market volatility is still a concern.
Trade at your own risk.
Regards
BURSAMASTER
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
