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Singapore Airlines ST: the RSI is oversold
Trading Central | 2018-07-06 00:01:00

Alternative scenario: the upside breakout of 10.7 would call for 11 and 11.2.

Our pivot point is at 10.7.

Our preference: the downside prevails as long as 10.7 is resistance.

Alternative scenario: the upside breakout of 10.7 would call for 11 and 11.2.

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 below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 10.98 and 11.14). Singapore Airlines is currently trading near its 52 week low at 10 reached on 06/07/17.

Supports and resistances:
11.2 **
11 *
10.7 **
10.5
10.37 (SGD-last)
9.9
9.7 **
9.5 *
9.3 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 07-06-2018 at 02:01 UTC+1
Price reference: 10.37 last known on 07-06-2018 at 02:01 UTC+1
Investment horizon: ST

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