It was at 0.45 in the morning. it broke the MA just before lunch at 0.47. now it moved up to 0.535. the resistance of this counter is at 0.55.
DJ MARKET TALK: Gems TV's US Consumers Still Spending - CIMB
0200 GMT [Dow Jones] STOCK CALL: Gems TV's (AM3.SG) target audience in U.S. should be less sensitive to any credit crunch amid concerns subprime problems will hurt household spending, says CIMB; "we would assume that most of Gems TV's customers are middle-income consumers, as in the U.K." Adds U.S. households may resort to higher leverage than cut back sharply on discretionary spending; "customers have become more sophisticated about jewelry purchases as they seek out the best value, which Gems TV is offering, in our view." Says stock's 50% plunge since announcing disappointing 3Q07 results in May unjustified, as company currently in expansion mode. Keeps Outperform call, S$1.32 target. Stock +3.5% at S$0.45. (FKH)
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