Wednesday, October 5, 2016

SingPost: Clearing above 1.50 indeed, Still more upside? price 1.515

Managed to break above the 1.50 key level as mentioned…..

Congrats on those who managed to accumulate some on dips as mentioned….

With 1.50 holding now, would be good for more strength…..

Let’s see if target can be hit?  :)


Recent Email:

Sent: Monday, October 03, 2016 9:55 AM
Subject: ******** SingPost: Back to consolidation again at a higher range, price 1.475
From previous call, we have indeed seen some profit taking for SingPost near the 1.50 key psychological resistance level and a retracement lower. It has traded back to the resistance turned support at 1.45 and then rebounded from it again today. Seems like we are in a new consolidation range from 1.45 to 1.50 now which is healthy for any further direction to continue. Any firm move above 1.50 can see the buy returning and the upwards reversal continue back to 1.56 then 1.60. As long as 1.45 holds, a short term positive with price maintaining above the 20 day MA which is still sloping upwards. Those who have taken profit previously, can consider accumulating on dips near 1.45 for a potential rebound and breakout above 1.50 further, of course with a plan.

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