Technical Analysis Baker Tech (568.SG)

Ichimoku Kinko Hyo

Price broke the upper limit of kumo cloud. Chikou span is around the price level of stock. Tenkan sen (pink) crosses over Kijun sen (cyan). All these are indication of possible bullish trend. Though, it is not a strong one as the next resistance level of 0.475 is not yet broken.

MACD

Start of weak upward momentum with MACD crosses above the signal line. Slightly bullish.

Bollinger Band

Contraction in the band followed by volume spike which drives price outside the upper band. Yet another weak bullish signal.

It is best to wait for the outcome of the court case with regard to the sale of PPL Shipyard. With the curret financial performance, it is doubtful that the upward trend would be a strong one.