SGX has been a laggard blue chip compared to its fellow blue chippie peers i.e. OCBC and Keppel. Ever since hitting the peak of $8.50+, it has fallen to sub $8 and has been erratic since then. However, I spotted something interesting:
- Potential to pass off as a triple bottom?
- Inverse Head & Shoulders spotted and currently supported by the 100EMA
- There's a gap; chances are it might be covered.
(1) & (2) are bullish signs either way. If it rebounds, first resistance at $7.8, followed by $8.0 Previously, it couldnt break out from the Kumo clouds, this time maybe it might be successful. Compared to its all time high of say $16 dollars? Could one easily say there is still value at $7.73?
Meanwhile, I'll be watching this fellow closely.
1 comment:
Bro, try seeing the stocks from sept 2009 to Apr 2010, under daily+.
I saw a head and shoulder formation there instead of inverse head and shoulder. please verify/confirm again.
Thanks Alan
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