Otto Marine (technical)

Otto Marine, it worth noting that grp managed to register a gain in net profit of $3.8m for 3q12, partially boosted by Other Income, vs a net loss of $17m yoy. Also worth highlighting is a pick up in sentiment for the OSV shipbuilders for 2013, on back of increased Capex plans in the O&M sector, with positive interests flowing down to the likes of STX OSV, Jaya Holdings & ASL Marine, which could bode well for Otto Marine. TEchnically, counter is currently testing its 200 day MA at $0.093. A close above it could signal further upside, with next resistance tipped at $0.106