Wednesday, July 1, 2015

SGX: A breakout above 8.10 seen indeed as per MORNING CALL issued

Can SGX still continue its rebound upwards?

Sent: Wednesday, July 01, 2015 10:14 AM
Subject: ****** SGX: Staging a recovery - More upside rebound above 8.10, price 8.08
SGX has been trading below 8.05 for more than 3 weeks after breaking below the support and we have seen it find a support at the 7.70 level before staging a rebound. Seems like it has found a base for any rebound and moving above 8.10 and staying above can lead the recovery back to 8.35 then 8.80 which was the high in May before Market weakness. May still be a good opportunity to accumulate on dips this Blue chip to prepare for any market strength. Note that the 8.70 support also coincides with the 200 day MA line where it rebounded from which can show that the long term trend is still positive.

No comments:

Post a Comment