Tuesday, January 3, 2017

ComfortDelgro: Some temp support found, but 2.40 is key to stem more selling pressure, price 2.46

Following up from previous call last week, we have indeed seen a firm sell down below the 2.50 psychological support and it has traded down to 2.45 where some buyers are holding for now.

As long as 2.50 is a resistance now, we can still expect more downside back to test the 2.40……

2.40 would be a level where we can see some bargain hunting again as this level has been holding strongly since 2014 and even rebounded from here 2 months back.

Mid to long term trend still weak for now so any clear breakdown below 2.40 can see a new wave of selling towards 2.20 then 2.00.

We may have some sell signals from system soon....

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Sent: Thursday, December 29, 2016 9:37 AM
Subject: ******** ComfortDelgro: Attempting a move below temp 2.50 support, more weakness below likely, price 2.49

For illustration purpose only

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