Very interesting GP Batteries

This is one counter that I am very interested at the moment, but unfortunately I am tied down by other commitments and no chance of touching it, so I am going to comment on this counter.


Fig 1 GP Batteries weekly

This is the chart of GP Batteries. At first glance you can see a HUGE wedge formation and the counter already has a break out from here, and yes, I am HUGE fan of wedge. The measurement of this wedge is SGD1.52.

Next, you will see between December 2013 to June 2014 as the lowest point of the chart. What is so interesting about this you ask? There are 2 gaps at the front and back. It indicates the bottom of this wave.

But wait, there is more! If you zoom the whole thing out. You will even fid a BIGGER wedge stretchin from 1997 to 2015....and it just broke out. The measurement this time is SGD4.35!

Fig 2 GP Batteries Weekly full range

The set back is that its most recent move created a small reverse wedge indicating a reversal downward. This is so far supported by the RSI and stochastic. But overall you will still find the indicators are trending up. So we might see a short term pull back before making further advancement.

I guess after multi-year slump in Singapore, it finally reversing, and this is after LKY's passing. IS this then an indication of the market celebrating a new dawn?