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CSE Global ST: the RSI is overbought
Trading Central | 2018-10-02 01:00:00

Alternative scenario: the downside breakout of 0.493 would call for 0.472 and 0.46.

Our pivot point is at 0.493.

Our preference: the upside prevails as long as 0.493 is support.

Alternative scenario: below 0.493, expect 0.472 and 0.46.

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 trading above both its 20 and 50 day MA (respectively at 0.46 and 0.45). Finally, CSE Global has crossed above its upper daily Bollinger band (0.51). CSE Global is currently trading near its 52 week high reached at 0.52 on 02/10/18.

Supports and resistances:
0.579 **
0.566 *
0.554 **
0.541
0.515 (SGD-last)
0.502
0.493 **
0.472 *
0.46 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 10-02-2018 at 03:00 UTC+1
Price reference: 0.52 last known on 10-02-2018 at 03:00 UTC+1
Investment horizon: ST

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