Thursday, August 22, 2013

***** Trading Sell: SGX. Share price 7.32. ( Broke 7.40 and 200 DAY MA)

SGX has been trading above the 7.40 immediate support for more than a month before testing it yesterday and further confirming the breakdown today. More down side can be possible to 7.20 then 7.00 level which was well supported in June 2013. As long as 7.40 is not broken up, we favour a down move to these targets. Note that it has also just broken below the 200 DAY MA (Dotted blue line) today which can signal more weakness ahead. Can consider CFD sell positions to ride any downside. Those who would like to accumulate on dips can do so below the 7.10 level.
Buy stop 7.42

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