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GuocoLeisure Limited ST: the downside prevails as long as 0.771 is resistance
Trading Central | 2019-08-17 22:10:00

Our preference: the downside prevails as long as 0.771 is resistance.

Our pivot point stands at 0.771.

Our preference: the downside prevails as long as 0.771 is resistance.

Alternative scenario: above 0.771, look for 0.787 and 0.795.

Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 0.78 and 0.79).

Supports and resistances:
0.795 **
0.787 *
0.771 **
0.766
0.76 (SGD-last)
0.733
0.724 **
0.716 *
0.707 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 08-18-2019 at 00:10 UTC+1
Price reference: 0.76 last known on 08-18-2019 at 00:10 UTC+1
Investment horizon: ST

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