Straits Asia Resources has been climbing up steadily since the breakout from the Falling Wedge.
The current uptrend is still intact with the uptrend support at $2.20 (which is also a 50D MA support). SAR has moved above 20D MA, 50D MA and 200D MA.
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
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).
Noble Group has broken out from a Falling wedge since my last post.
Currently Noble Group broke the 200D MA resistance with 20D MA crosses up 50D MA. Current chart looks bullish and the breakout price target of $2.20 is on track. $1.845 (78.6% Fibonacci Retracement Level) should provide a good support for the bull to charge.
