With no major movement in price, it is observed that there is a sharp increase in volume of more than 100% as compared to the average volume traded over the past 50 days. At 0.46, the stock is trading near its 2-year historical high. It is also observed that the MacD line is above the signal line indicating some short-term price strength.
Company Information
Background
The Company was incorporated in 1978 as S.H.M. Pte Ltd. It was the franchisee for Swensen’s and operated a chain of ice-cream parlours cum restaurants. It changed its name to Swensen’s of Singapore Pte Ltd the following year and was renamed Swens Singapore Pte Ltd in 1990.
On 26 March 1992, the Company was converted into a public limited company and changed its name to Swens Asia-Pacific Ltd. On 17 November 1993, its name was changed to ABR Holdings Limited.
ABR Holdings primarily manages, franchises and operates a portfolio of well-known food and beverage companies and brands, including Swensen’ Yogen Fruz, Season, The Cocoa Trees and Europa, with outlets located both locally as well as regionally.
In 2006, the Company acquired home-grown japanese style pizza delivery business Oishi Pizza. In the same year, ABR also took up a 50% stake in the master franchise of Gloria Jean’ Coffees in Singapore. The Company also created a new Earle Swensen’, and the first outlet was opened at VivoCity in October. Beyond Singapore, the Group began to establish a distribution network for premium chocolates and confectionary in China.
Trend: Consolidation with a potential bullish breakout bias
The benchmark STI remains sandwiched between the 20 and 50-day moving averages. Interestingly, a possible bullish crossover signal was spotted in the MACD trend indicator, which suggests a potential change in the trend. In addition, upside momentum is also building up as the Stochastic oscillator continues to inch upwards. In order to see a follow-through, the STI needs to break above the immediate resistance at 2952 to see a potential upside push towards 3043 next. On the other hand, a violation below the immediate support at 2910 may negate the potential bullish tone to see a slide towards the rising window gap support of 2886-2875.
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Sunmart Holdings
