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GuocoLand ST: as long as 2.24 is support look for 2.5
Trading Central | 2017-09-11 01:37:00

Alternative scenario: the downside breakout of 2.24 would call for 2.15 and 2.09.

Our pivot point is at 2.24.

Our preference: as long as 2.24 is support look for 2.5.

Alternative scenario: the downside breakout of 2.24 would call for 2.15 and 2.09.

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 below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 2.22 and 2.03). GuocoLand is currently trading near its 52 week high reached at 2.38 on 31/08/17.

Supports and resistances:
2.62 **
2.56 *
2.5 **
2.45
2.33 (SGD-last)
2.28
2.24 **
2.15 *
2.09 **

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