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Straits Times 3,115.03 -11.06 -0.35%
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CSE Global ST: the RSI is oversold
Trading Central | 2019-08-06 22:36:00

The MACD is below its signal line and negative.

0.456 is our pivot point.

Our preference: the downside prevails as long as 0.456 is resistance.

Alternative scenario: above 0.456, look for 0.469 and 0.477.

Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 0.47 and 0.48). Finally, CSE Global has penetrated its lower daily Bollinger band (0.45).

Supports and resistances:
0.477 **
0.469 *
0.456 **
0.45
0.44 (SGD-last)
0.419
0.412 **
0.403 *
0.395 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 08-07-2019 at 00:36 UTC+1
Price reference: 0.44 last known on 08-07-2019 at 00:36 UTC+1
Investment horizon: ST

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