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SATS ST: the RSI is oversold
Trading Central | 2018-06-21 00:57:00

Our preference: the downside prevails as long as 5.03 is resistance.

Our pivot point is at 5.03.

Our preference: the downside prevails as long as 5.03 is resistance.

Alternative scenario: above 5.03, look for 5.19 and 5.29.

Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 5.17 and 5.32).

Supports and resistances:
5.29 **
5.19 *
5.03 **
4.96
4.87 (SGD-last)
4.64
4.54 **
4.44 *
4.34 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 06-21-2018 at 02:57 UTC+1
Price reference: 4.87 last known on 06-21-2018 at 02:57 UTC+1
Investment horizon: ST

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