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GuocoLand ST: the RSI is overbought
Trading Central | 2017-08-28 00:41:00

Alternative scenario: the downside breakout of 2.18 would call for 2.11 and 2.07.

Our pivot point is at 2.18.

Our preference: the upside prevails as long as 2.18 is support.

Alternative scenario: below 2.18, expect 2.11 and 2.07.

Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 2.03 and 1.95). Finally, GuocoLand has crossed above its upper daily Bollinger band (2.27). GuocoLand is currently trading near its 52 week high reached at 2.31 on 24/08/17.

Supports and resistances:
2.52 **
2.47 *
2.43 **
2.39
2.29 (SGD-last)
2.21
2.18 **
2.11 *
2.07 **

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