Singapore Exchange (SGX): Trend Reversal

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Singapore Exchange (SGX) has reached the price target of $9.20 after breaking out from the Falling Wedge pattern. A Bearish Engulfing candlestick patterns, which is a reversal pattern, was observed at about $10.00 (52 weeks high level).

Current PE of SGX is 31.77 which is considered over value.

Current Stock Price = $9.54

  • Rolling PE = 33.87
  • FY10 PE = 31.77
  • FY09 PE = 33.27
  • FY08 PE = 21.26
  • FY07 PE = 24.11

Technically and Fundamentally, SGX does not have enough strength to continue the bull run. A Trend Reversal is inevitable. Next crucial support at $8.805 (78.6% Fibonacci Retracement Level), followed by $7.718 (61.8% Fibonacci Retracement Level).

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Straits Time Index (STI): Trading in an Uptrend Channel

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Straits Time Index (STI) is currently trading in an Uptrend Channel but will probably have trend reversal as it is facing the uptrend resistance at about 3,230. Immediate support is at 3,130 which is the 20D MA support followed by 3,040 which is a 50D MA support (also the uptrend channel support). Breaking below 3,040 indicates the end of uptrend.

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Ying Li: Moving Sideway

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Ying Li stock price is currently moving sideway and gyrating at about $0.40.  Ying Li is trading below the 200D MA and the 200D MA is still on the downward direction. Unless Ying Li share price moves above the 200D, this stock is not interesting both from technical and fundamental point of view.

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