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Straits Times 3,114.16 -11.98 -0.38%
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City Developments ST: as long as 9.58 is resistance look for 8.66
Trading Central | 2019-08-20 18:13:00

The MACD is below its signal line and negative.

Our pivot point stands at 9.58.

Our preference: as long as 9.58 is resistance look for 8.66.

Alternative scenario: the upside breakout of 9.58 would call for 9.84 and 9.99.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the share stands above its 20 day MA (9.35) but below its 50 day MA (9.41). City Developments is currently trading near its 52 week high reached at 9.91 on 30/07/19.

Supports and resistances:
9.99 **
9.84 *
9.58 **
9.48
9.38 (SGD-last)
8.81
8.66 **
8.52 *
8.37 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 08-20-2019 at 20:13 UTC+1
Price reference: 9.38 last known on 08-20-2019 at 20:13 UTC+1
Investment horizon: ST

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