Singapore Exchange (SGX): Up or Down?

SGX is trading on the down trend but also forming a Symmetrical Triangle.

  • Immediate Support is between $7.20 to $7.30.
  • Immediate Resistance is about $7.40 (20D MA and 50D MA) followed by $7.50 which is also the triangle resistance.
  • 200D MA is trending down.
  • PE is 26.6 (3 years high) at the price of $7.35.

My view on SGX: Downside risk is higher than upside potential (capped at long term down trend resistances – the green line and 200D MA).

This Post Has One Comment

  1. Marubozu

    Bearish Engulfing candlestick pattern observed! Technical rebound is over. Heading towards $6.20.

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