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Straits Times 3,126.14 -8.57 -0.27%
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SingPost: Will It Have A Strong Rebound?
Trend Spotting | 29 May 2013
By: Robin Han
Articles (102) Profile

Singapore Post (SingPost) has been going up for around one year. While the uptrend has been strong, there is a risk that the stock may end its uptrend after the parabolic trend in mid-May.

However, the stock may have a strong rebound and retest the recent high at around $1.40 given its recent deep pull back. One may consider buying on weakness during a pull-back to have a swing trade.

Do take note that the uptrend may not continue. This setup is just to trade rebound and significant resistance at $1.40.

Weekly Chart Of SingPost

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.


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