Report Date and Broker Information

• Date: October 28, 2024
• Broker: CGS-CIMB, Singapore, Retail Research

Overview of Katrina Group Ltd.

Katrina Group Ltd. operates a chain of restaurants across Asia, providing a range of dining experiences through company-owned locations. This company is noted for its recent positive price action, indicating a potentially significant shift in market momentum.

Recent Price Movement and Technical Analysis

• Recent Price: SGD 0.076
• Bullish Momentum: Katrina Group Ltd. has demonstrated a bullish rebound, breaking out of a long-standing downtrend that originated in July 2016. This upturn is marked by a bullish engulfing candle pattern on the weekly chart, suggesting a potential reversal.
• Ichimoku Indicators: Prices are trending above all Ichimoku indicators, supporting a bullish sentiment.
• MACD and Signal Line: The MACD histogram is positive, with the MACD line rising after a crossover, indicating upward momentum.
• Stochastic Oscillator: An oversold crossover has been confirmed, supporting the case for a bullish trend.
• Directional Movement Index (DMI): A bullish strength is confirmed by the DMI, adding to the technical indicators supporting a rise.
• Volume Activity: Trading volume has surpassed the 20-day period average, signifying increased investor interest.

Support, Resistance, and Target Prices

• Entry Prices: SGD 0.076, 0.055, and 0.020
• Support Levels:
  • Support 1: SGD 0.055
  • Support 2: SGD 0.014
• Resistance Levels:
  • Resistance 1: SGD 0.125
  • Resistance 2: SGD 0.182
• Target Prices:
  • Target 1: SGD 0.120
  • Target 2: SGD 0.200
  • Target 3: SGD 0.250
  • Target 4: SGD 0.300

Analyst Insight and Recommendation

CGS-CIMB’s analyst, Chua Wei Ren, CMT, has highlighted that Katrina’s weekly price action suggests a strong breakout potential. The analysis further underscores positive technical indicators, including MACD and DMI, all of which support a sustained bullish outlook for Katrina Group Ltd.