Broker: CGS International Securities
Date: October 1, 2024

Overview of Nanofilm Technologies International Ltd

Nanofilm Technologies International Ltd provides nanotechnology solutions, specializing in advanced materials and nanoproducts. The company primarily serves customers across Asia. Nanofilm is positioned as a key player in the application of nanotechnology, delivering innovative solutions that cater to diverse industries.

Recent Stock Performance

As of October 1, 2024, Nanofilm Technologies International Ltd’s stock price stood at S$0.865. The stock is experiencing a bullish upside recovery, and recent technical indicators point towards a potential upward trajectory.

Technical Buy Analysis

According to the report, Nanofilm has already reached the first target price of S$0.930 based on a previous trendspotter analysis dated July 2, 2024. Following a period of bearish selling, the stock is showing positive price action that suggests an upside continuation.

Key Technical Indicators

1. Price Action: Nanofilm’s price closed above the resistance turned support level at S$0.830 after a bullish bar formed on Monday.
2. Ichimoku Indicators: The price has moved above all Ichimoku indicators, with the possibility of a bullish “Kumo twist.”
3. MACD: A bullish crossover has been observed in the Moving Average Convergence Divergence (MACD), with the histogram returning to a positive zone.
4. Stochastic Oscillator: This indicator rose after a crossover near the 20-line, suggesting that upward momentum is intact.
5. Rate of Change (ROC): The 23-period ROC increased and returned above the zero line, signaling a bullish divergence.
6. Directional Movement Index (DMI): Renewed bullish strength has been indicated.
7. Volume: Trading volume rose above the 20-period average, pointing to increased buying pressure.

Price Targets

• Support 1: S$0.830
• Support 2: S$0.660
• Stop Loss: S$0.650
• Resistance 1: S$0.930
• Resistance 2: S$1.03
• Target Prices:
  • TP 1: S$0.960
  • TP 2: S$1.03
  • TP 3: S$1.12
  • TP 4: S$1.20

Conclusion

The technical analysis provided in the report by CGS International Securities suggests that Nanofilm Technologies International Ltd is positioned for continued upside momentum. Given the strong technical indicators and the positive price action, this stock represents a technical buy opportunity.