Stock Picks of the Week

Hong Fok has since risen 30 percent and is on track to hit our target price of $2. That'll be the time for me to sell half and put a trailing stop for the remaining half.

Once again, it's back to our weekly stock picks' time. Picks for this week are namely, AusGroup and FJ Benjamin. For illustration purposes, we'll be looking at triangles for a few more times before we move into other chart formations.

AusGroup

• Ascending Triangle with support at 1.8 (20dma)
• Target price of $2.2 based on Fibonacci extension
• Rising metal prices
• Healthy order book expecting more contracts

FJ Benjamin

• Ascending Triangle with a target price of $1
• Support at 50dma of 86cents
• Retail earnings during this GSS recorded higher than last year
• Though effects of GST hike still unknown for future, it has stimulate better sales as consumers bring forward their consumption to beat the GST hike deadline.

Before i logged off, here's one of my favourite song (Perhaps Love by John Denver) for all of you to enjoy