Singapore Exchange (SGX): Bull on Standby!

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Current Singapore Exchange (SGX) is starting to show a bullish chart pattern. Weekly chart shows SGX has found the bottom at $6.00 and has since reversed to the uptrend.  A bullish harami candlesticks has been formed which indicate potential upside weeks ahead.

Daily chart shows SGX bounced back from the 61.8% FR support at $6.78. This level is also the 200D MA support. The 50D MA is crossing up 200D MA at this level too. All these signs are bullish signal and if SGX can break the resistance at about $7.30, the stock may move up to the 161.8% FR of about $8.15. Cut loss if SGX drop below $6.78, the critical support level.

 

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