Wednesday, 15 February 2012

OSK Research sees upside target for Green Ocean at 24.5 sen

KUALA LUMPUR (Feb 15): OSK Research said the trading volume on Green Ocean Corporation Bhd rebounded on Tuesday after the stock’s consolidation of Feb 8’s sharp gains.

It said on Wednesday that Tuesday’s strong volume indicates the stock’s desire to maintain a posture at above Feb 8’s opening point.

“As it is uncommon for such strong gains to fully evaporate, traders may consider accumulating Green Ocean shares while the stock is still in consolidation mode.

“We are eyeing the 24.5 sen level as the first upside target while our cut-loss is pegged at below the 16 sen level,” it said.

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