Those who are trading in this counter be careful. A Descending Triangle is in the making. However, yesterday UBS has a buy call. That may change the faith thought.

Yes, I think the buy call from UBS did change the faith of Straits Asia. The descending triangle has broken since last Friday. It is bullish right now. If nothing goes wrong, MACD line shall cut up signal line.

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DJ MARKET TALK: UBS Ups Straits Asia Target To S$1.72; Keeps Buy

0456 GMT [Dow Jones] STOCK CALL: UBS ups target price for Straits Asia Resources (AJ1.SG) to S$1.72 (10.6X FY08 P/E) from S$1.55 after raising EPS forecasts for FY08 to US$0.11 from US$0.09, raises FY09E to US$0.15 from US$0.11. Upgrade reflects expected wider profit margin on rising coal prices, termination of copper marketing contract yielding little to earnings. Keeps Buy call. Stock flat at S$1.41 midday. (FKH)

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July 19, 2007 00:57 ET (04:57 GMT)
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