SGX: Rebounded from 7.10 as mentioned in earlier accumulate calls last week, price 7.28

Still capped at 7.50 for now….. congrats to those who managed to catch the slight technical rebound…

Sent: Wednesday, August 26, 2015 9:49 AM
Subject: ********* SGX: Supported at 7.10 for now, note levels....

SGX has not been spared from the recent sell down and has dipped from a high of 8.50 last month. Support would now be at 7.10, 6.80 then 6.65 which were the lows set in Oct and March last year respectively. Those looking to accumulate this blue chip on dips can consider at these levels but be nimble. Current short term trend still down with 20 day MA line still pointing firmly lower. But it may bottom out soon as market stabilized over the next  few weeks to a month and with it hitting new lows. Technical indicators have touched over sold region but there can still be more selling pressure if support breaks down.