MIDCAP-Singapore's Jardine Cycle & Carriage sees surge in 5-day volume
Shares in Jardine Cycle & Carriage have seen the highest jump in 5-day average volume over its 30-day volume among the index components, Thomson Reuters data shows.
The stock's 5-day average volume surged to 329,200 shares, 76 percent more than its 30-day average volume of 186,900 shares. The data is based on Thursday's close.
The price rise over the past week on strong volume suggests an uptrend for its shares.
It looks to have formed an ascending triangle pattern and cut the horizontal resistance line upwards. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern.
MACD is bullish as it is trading above the signal line. CONTEXT:
Jardine shares surged 7 percent to a life-time high of S$53.42 on Friday.
The stock is up 3.3 percent over the past week, while the broader index has gained 0.89 percent over the same period, as of Thursday's close.
(Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)
Keywords: MIDCAP JARDINECYCLE/