Looks like Singapore Exchange (SGX) has bottomed up with clear uptrend. A Double Bottoms is in formation which is a reversal pattern with neckline at about $7.30. Currently SGX is trading above 20D, 50D and 200D SMA and trending up. 2/5 EMA is showing short term bullish signal on both daily and weekly chart. Good to buy on dip as long as 20D SMA support holds (strong support on past 3 occasions). Note: Base on current PE ratio and PEG valuation, SGX is not undervalue for long term value investing. Current chart is only suitable for short to medium term trade.
Key Statistics for SGX
| Current P/E Ratio (ttm) | 25.5857 |
|---|---|
| Estimated P/E (06/2013 ) | 23.1457 |
| Earnings Per Share (SGD) (ttm) | 0.2732 |
| Est. EPS (SGD) (06/2013) | 0.3020 |
| Est. PEG Ratio | 3.6739 |
| Market Cap (M SGD) | 7,465.89 |
| Shares Outstanding (M) | 1,068.08 |
| Enterprise Value (M SGD) (ttm) | 6,768.21 |
| Enterprise Value/EBITDA (ttm) | 18.35 |
| Price/Book (mrq) | 8.9920 |
| Price/Sale (ttm) | 11.5432 |
| Dividend Indicated Gross Yield | 3.86% |
| Next Earnings Announcement | 10/17/2012 |
Today looks no good going to downtrend
No. This is called testing the support.
Down trend is defined as the stock price forms “Lower Low, Lower High” type of pattern and the Moving Averages are trending downward.
Thanks for yr information .