Now at 0.77, heading towards 0.800 now as mentioned ?
Sent: Thursday, March 05, 2015 10:22 AM
Subject: ***************** Potential Breakout: Sheng Siong - Consolidation before a breakout possible, price 0.75
Subject: ***************** Potential Breakout: Sheng Siong - Consolidation before a breakout possible, price 0.75
Note that Sheng Siong is currently testing the 0.75 critical resistance and any breakout above 0.75 can put an end to the consolidation. Has been supported strongly above the 0.71 support for more than 2 weeks and holding well. Target would be 0.800 in the short term on a breakout. High today at 0.755 a positive but more confirmation needed.
Sheng has traded higher from previous call after clearing above the 0.72 resistance level. Range would now be from 0.72 to 0.75. Any further breakout above the 0.75 would be a key positive which can see it find a new high to 0.80. As long as 0.70 – 0.72 remains as the support now, we are bullish and can consider riding more upside and raising stop loss. Let’s see if the 0.75 resistance clears out eventually.
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