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The Bulls are rearing its horns again. Will “Black October” happen this time?
 
Singapore

Banyan Tree
 

Anybody wants to go for an early holiday? Banyan Tree, a manager and developer of resorts, hotels and spas appears to be having an early “Christmas Rally” in the making.  The stock managed to trade back above its 20 and 50-day moving averages, the MACD trend indicator had a bullish crossover above its signal line and the MFI oscillator had started to trend upwards above the 50% level. Thus all these positive technical developments suggest that upside momentum is creeping back. A break above the immediate resistance at $0.98 shall see an upside push towards the next classical resistance at $1.10. The immediate support at $0.845 shall contain dips for now but failure to hold may negate the bullish tone to expose the next classical support at $0.785.

 
 
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