I would certainly not use too many technical indicators on penny stocks, that's an unwritten rule among technical analysts. Pennystocks - many being rather illiquid stocks - can move well out of their bollinger bands. 2007 and early 2008 showed us that SGX doesn't really care about bollinger bands.

This seems to be a good point to buy, simply because of the broken downward trend, which is usually the most reliable indicator you can get when looking at pennystocks...

Anyway, good luck to all and best wishes from Amsterdam, Netherlands.