Thursday, August 30, 2018

Sheng Siong: Uptrend still intact? Forming a good support again... Price 1.18


Just last week, we have spotted some bullish actions with Sheng Siong attempting the move above the critical 1.10 level..


Has been consolidating below for more than a year and finally some bullish actions spotted..


The uptrend has also been quite firm with it trying to find a new high since June actually..


Some upside targets were drawn then…




Over the past week, we have seen it traded to a high of near 1.20, which is our 2nd target and some profit taking seen which is normal


However, we have found some good support coming back at 1.15 again…


Uptrend still looks ok above this… watching….


One of the few defensive counters in an uptrend….


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