Monday, December 2, 2019

SGX – Breaking Out Of the Range

  • Recent price action triggers a bullish implication of a multi year basing pattern and breaking out of the 2016-2018 trading range between 6.80 to 7.70 adds more evidence to the upswing cycle.
  • Breaking above resistances at 8.50 and 8.80 will set the stock for another swing up to its next upside target at 9.60.
  • Staying firmly above its 200 days moving average since early 2019 confirms the uptrend is intact.
All posts and charts are for educational and illustration purposes only

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