Labroy Marine

As requested by TiTi Shawn. Kelive released a report on Labroy that it is 'sailing its way to blue chip status' and a target price of 2.38. While its music to the ears to investors of Labroy, we must not get too excited and carried away by the suggested target price. One can just look at Chartered and Utac for starters that more often than not, target prices are seldom met once they are quoted, especially if the gap difference between the current and the target price is wide. It is more prudent that we look at what has happened and what is going on right now. We need not look furthur than to study the chart of stocks to confirm our analysis, be it fundamental or technical.
From its chart, Labroy is at the 1.40s region again. The resistance at 1.44/.46 is quite significant to break if labroy is to garner a move upwards. Note that 1.10 is the 61.8% retracement mark from its low of .79 & its all-time high of 1.64. This is another example why i believe trendlines and retracements always happen in patterns throughout a stock's lifecycle. For now, look to the breaking of 1.44 with volume as positive signs for labroy. If it weakens, gd point to enter would be 1.26.