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NEWS WATCH Singapore Technologies Engineering ST: look for a drop towards 4.16 before a bounce
Trading Central | 2019-08-13 22:16:00

The MACD is negative and below its signal line.

4.16 is our pivot point.

Our preference: look for a drop towards 4.16 before a bounce.

Alternative scenario: below 4.16, expect 4.07 and 4.01.

Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 4.25 and 4.18). Singapore Technologies Engineering is currently trading near its 52 week high reached at 4.35 on 30/07/19.

Supports and resistances:
4.61 **
4.55 *
4.49 **
4.43
4.27 (SGD-last)
4.2
4.16 **
4.07 *
4.01 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 08-14-2019 at 00:16 UTC+1
Price reference: 4.27 last known on 08-14-2019 at 00:16 UTC+1
Investment horizon: ST

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