Chua Wei Ren: bullish continuation on iFAST likely to come back
❓Will $IFAST(AIY.SI)$ finally catch up to the soaring financial shares listed on the SGX? Up just 0.7% year-to-date, its performance lags that of the broad STI’s +20% return and that of the Singapore banks as well as SGX.
iFAST is scheduled to announce their second quarter earnings today, likely after-market.
Upon examining the stock’s technical structure, CGSi’s technical chartist Chua Wei Ren believe that iFAST’s price action has shown a bullish recovery to the upside, and shares his upside target prices alongside stop loss levels on the stock: https://rfs.cgsi.com/api/download?file=1ec3efd6-50ef-4749-ac82-2eff0d0949b7
✳Warrant investors keen to trade on Wei Ren’s short-term technical view on iFAST can consider using iFAST call warrant $iFast MB eCW261229(FSZW.SI)$
➡Use the Exposure Simulator (https://warrants.com.sg/tools/exposuresimulator/FSZW) to estimate your warrant investment based on your intended investment outlay in iFAST shares, and find out how the warrant will perform based on the target price levels in iFAST as well as the maximum holding period of FSZW before the holding costs fully erode the warrant’s geared returns
There are no put warrant available over iFAST
Note: Wei Ren and/or CGSi are independent of, and not affiliated with, Macquarie. Wei Ren’s view does not represent that of Macquarie’s and may contradict Macquarie Research’s viewpoint
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