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GuocoLand ST: the RSI is overbought
Trading Central | 2017-08-25 00:32:00

Alternative scenario: the downside breakout of 2.12 would call for 2.05 and 2.01.

2.12 is our pivot point.

Our preference: the upside prevails as long as 2.12 is support.

Alternative scenario: below 2.12, expect 2.05 and 2.01.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (respectively at 2.01 and 1.94). Finally, GuocoLand has crossed above its upper daily Bollinger band (2.23). GuocoLand is currently trading near its 52 week high reached at 2.31 on 24/08/17.

Supports and resistances:
2.53 **
2.48 *
2.44 **
2.4
2.28 (SGD-last)
2.14
2.12 **
2.05 *
2.01 **

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