week20 SGX Osim at bullflag bottom. Possibility of buyback bounce with technical charting?

I do not trade this counter. But my friend’s keen and vested interested in osim has made me start to monitor as well. I will go through the technical aspects first, before moving on to fundamental/sentiment aspects, something is still new and subjective to me.

w1

week20 osim w1 resistance turn support 150515

On the week chart, price reaches a classic resistance turn support of multi 52 weeks level.

D1

week20 Osim international d1  bullflag 150515

On the day chart however price is currently at the bottom of a bullflag. if price can close above 1.70, it will also be flushing a 2 months low, forming a beartrap. This suggests support and validates the 52weeks level  as seen in the first chart.

If this bottom is indeed true, then price can look for $2~ level.

Buyback:

http://osim.listedcompany.com/newsroom.html/year/-1

This is something new to me. My friend has made the observation that whenever there is a buyback there will be likely a bounce in price. However as a chartist, I seek the possibility if I can align this type of information with technical charts.

In this case if the buyback does really have effects on the price, it has also happened near the bottom of the bullflag as seen in the day chart.  Hence I hope to shed more light in the future, combining both aspects to make a better trade decision.

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