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[SG Stock] Strong Momentum: NIO and Geo Energy Resources

In this article, we will focus on Azure, whose shares could see further bullishness; and Natural Coal Mining Group, which is showing a strong bullish reversal.

In this article, we will focus on NIO Inc. (SGX: NIO), whose stock price may see further bullish momentum; and Geo Energy Resources Ltd (SGX: RE4), which is showing a strong bullish reversal. Here are some key highlights from the technical report:

NIO Inc.

NIO primarily engages in the manufacturing and sales of electric vehicles and their components, along with providing battery charging services.

  • Market positioning: Positioned as a "technical buy" as the stock has broken above a nine-month downtrend line and is holding above the bullish gap.
  • Entry prices and support levels: $5.50, $4.60, and $4.00; support levels are at $4.67 and $3.70.
  • Stop-loss and resistance levels: Stop-loss at $3.43; resistance levels at $6.42 and $8.10.
  • Target prices: $7.08, $9.40, $10.10, and $11.18.

Geo Energy Resources Ltd

Geo Energy Resources operates coal mining businesses, provides mining contracting services to third-party mine owners, and sells coal to coal traders and exporters.

  • Market positioning: Positioned as a "technical buy" as the stock has broken above previous resistance levels and buyers seem to be in control.
  • Entry prices and support levels: $0.325, $0.300, and $0.280; support levels are at $0.310 and $0.265.
  • Stop-loss and resistance levels: Stop-loss at $0.26; resistance levels at $0.310 and $0.265.
  • Target prices: $0.37, $0.40, $0.45, and $0.48.

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