Tuesday, 26 January 2016

M1 - HIT A HIGH OF $2.37 WITH ENTRY $2.26

 M1 completed our reversal to hit a high of $2.37 on entry $2.26. M1 was in an oversold region as the stock have been hit hard by news of the 4th Telco coming to the market. However the market can be vibrant with news that TEMASEK want to divest its stake in M1 thus spurring a last min rally(http://www.theedgemarkets.com/sg/article/temasek-said-discuss-potential-sale-keppel-stakes-m1-keppel-reit). Having seen the market weakening, we choose M1 as a defensive approach plays during this week.

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