SGX has fallen below the 3 Moving Averages again and continues its down trend. SGX is currently heading towards the 61.8% Fibonacci Support at about $7.70. SGX may rebound from this support before continues the down trend to test the support at $7.20. Keep a close watch on this $7.70 support level before taking any entry.
Ezra failed to break the $1.85 tough resistance. The stock price retrace back to the next immediate support at $1.64. Currently MACD is showing that Ezra is heading towards the support level, and RSI is 33% (very close to Oversold Region).
Base on the past chart pattern, Ezra is expected to trade between $1.60 to $1.85 until there is a breakout. So, is it a good news or bad news? It depends on whether you know how to read the chart and trade.
“Buy near support, Sell near resistace” and wait for reversal confirmation.
STX OSV is currently sitting at the 50D MA support. Watch this support at about $1.16 closely because the MACD is weakening. Breaking below this support may start down trend for STX OSV.
Note: There is only 6 months data for STX OSV so that support and resistance may not be too reliable.
