Still good to accumulate this defensive counter?
Sent: Tuesday, August 25, 2015 9:30 AM
Subject: ******** Sheng Siong: opportunity to accumulate on dips, price 0.800
Subject: ******** Sheng Siong: opportunity to accumulate on dips, price 0.800
Sheng Siong has dipped below the 0.800 psychological support level briefly today that has been supported since April. Those who have already taken profit can consider accumulating on dips as it approaches these support levels at 0.800 then 0.78, which also coincides with the 200 day LONG TERM moving average where we can expect some strong support for any rebound. Indicators are looking oversold and there can be a rebound soon as market stabilizes and it starts to recovers some lost ground. Do be nimble too even for defensive counters as market is still rather volatile and will remain so in the coming week.
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