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Straits Times 3,115.03 -11.06 -0.35%
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Singapore Technologies Engineering ST: look for a drop towards 4.07 before a bounce
Trading Central | 2019-08-10 22:32:00

The penetration of 50 on the RSI should trigger further losses.

Our pivot point stands at 4.07.

Our preference: look for a drop towards 4.07 before a bounce.

Alternative scenario: the downside breakout of 4.07 would call for 4 and 3.95.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the stock is below its 20 day MA (4.25) but above its 50 day MA (4.18). Singapore Technologies Engineering is currently trading near its 52 week high reached at 4.35 on 30/07/19.

Supports and resistances:
4.5 **
4.45 *
4.4 **
4.35
4.22 (SGD-last)
4.11
4.07 **
4 *
3.95 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 08-11-2019 at 00:32 UTC+1
Price reference: 4.22 last known on 08-11-2019 at 00:32 UTC+1
Investment horizon: ST

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