Penny stocks are still grabbing the limelight - albeit in rotational fashion, which is a boon for those who like to trade a lot. In the past five sessions, Tat Seng Packaging’s volume has surged along with its price. While indicators remain supportive of further gains, short term stochastics and 21-day RSI are near the top end of their range and have formed negative divergenes with price. However, prices may test the 82 cents to 86 cents range before building a top. This level coincides with a target attained from a breakout of 57 cents at the end of January. Immediate support is at 67 cents below which the uptrend may no longer be valid. Tat Seng ended the month of February at 71.5 cents.

SEE:Tat Seng Packaging proposes spin-off and listing of Suzhou subsidiary on 'suitable stock exchange'

Tat Seng Packaging - THE EDGE SINGAPORE

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