DAYANG (5141): Bullish

Pattern: Inverted Head & Shoulder Breaking Out

DAYANG, another stock in the oil and gas industry involving the support and services for the upstream's. 

If you have been following my posts, you might notice that I am bullish in the oil and gas sector and I see some further upside for the Crude Oil. Refer to my previous posts below on HIBISCS & SENERGY (previously known as SKPETRO):

HIBISCS - A Pumped & Dumped Or A Start Of Accumulation Phase?

SKPETRO - A Bottom Out Structure Breakout Plus A Peep Into The Crude Oil Future

Based on the weekly chart above, DAYANG has broken out from the long term downtrend line in end of Dec 2016. It has formed an inverted head & shoulder pattern and is currently in the middle of breaking out of the neckline.

The immediate resistance is around 1.35.

Based on the pattern, the target prices for DAYANG are 1.61, 1.92 and 2.10.

Among HIBISCS, SENERGY & DAYANG, HIBISCS shows the most bullish strength and is the strongest stock out of these 3.

I stay bullish on DAYANG as long as it is above 0.90.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

Topics That You Do Not Want To Miss

How to determine the "bullishness" of the patterns- https://www.facebook.com/BursaSGXcandlestick/videos/378260995905662/

The Trade Management Technique You Need To Know - http://klse.i3investor.com/blogs/candlestick/114496.jsp

Best Way To Learn To Trade Without A Mentor - http://klse.i3investor.com/blogs/candlestick/113821.jsp

Entry Setup Illustration - http://klse.i3investor.com/blogs/candlestick/113605.jsp

Stop Loss & Safe Trading - http://klse.i3investor.com/blogs/candlestick/113510.jsp

Ultimate Guide For Position Sizing - http://klse.i3investor.com/blogs/candlestick/113061.jsp

Come Up With Trading Ideas & Turn Them Into Investing Ideas - http://klse.i3investor.com/blogs/candlestick/114110.jsp

Cheers,

Ming Jong

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