Singapore Exchange breakout from the Rectangle after XD date. The rebound from $7.40 was rejected by the 20D SMA (note: 20D SMA is quite a reliable support & resistance for SGX base on past pattern). The recent support of $7.41 is the critical support to watch. Breaking this support will send SGX to the price target of about $7.175 (the 200D SMA & 161.8% FR).
Hi, is this a confirmed breakout for resistance level at 7.85 today?
Kitty,
No. Not a breakout.
Personally I don’t think SGX can go higher from here base on Fundamental Analysis unless there is big announcement.
https://mystocksinvesting.com/singapore-stocks/singapore-exchange-sgx/singapore-exchange-sgx-can-it-go-higher/