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Innovalues, Will It Start Another Rally?

With the economic recovery of both US and Euro zone, one of the sectors that may benefit is manufacturing as it tend to be easier to get contracts from developed countries.

Innovalues, a precision device manufacturer and service provider, which already has multi-national corporation clients may benefit from this trend.

Innovalues is already in a mid to long term uptrend. It had a consolidation from Nov 2013 to April 2014, giving a solid base for potential up move.

After breaking out from the resistance at $0.165, it made a 2-year-high and confirmed the mid term strength.

It can be seen that both moving average and MACD histogram are indicating bullish signals and therefore the uptrend is likely to continue.

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From a fundamental perspective, the recent quarterly statement on 8 May reported an increase of net profit for 250 percent, indicating that the company is having a health growth and its shares will be relatively safe to invest.

One may consider buy on weakness for Innovalues and expect the positive signals from both the fundamental and technical side, which may help the price to reach a much higher level.



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