Tuesday, February 4, 2014

********** Trading SELL: SGX. Share price 6.77. (Broken immediate support at 6.80)

SGX has traded lower on a weaker market since breaking below the 6.95 support level last week. Even immediate support at 6.80 has been tested and broken down today. Likely to see more downside with a near term target to 6.50. Those looking to accumulate again and average down can consider buying on dips when it nears that level, otherwise a short opportunity is presented at the moment to ride the potential downside. Has been forming lower highs since June last year as seen in downward sloping line and eventual break of horizontal support at 6.95.
Stop loss at 6.84 for CFD Short positions
 

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