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GuocoLeisure Limited ST: look for a drop towards 0.709 before a bounce
Trading Central | 2019-02-06 02:15:00

Alternative scenario: the downside breakout of 0.709 would call for 0.696 and 0.688.

Our pivot point is at 0.709.

Our preference: look for a drop towards 0.709 before a bounce.

Alternative scenario: the downside breakout of 0.709 would call for 0.696 and 0.688.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the stock is trading under its 20 day MA (0.74) but above its 50 day MA (0.73). GuocoLeisure Limited is currently trading near its 52 week low at 0.7 reached on 16/11/18.

Supports and resistances:
0.781 **
0.773 *
0.765 **
0.757
0.735 (SGD-last)
0.715
0.709 **
0.696 *
0.688 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 02-06-2019 at 03:15 UTC+1
Price reference: 0.74 last known on 02-06-2019 at 03:15 UTC+1
Investment horizon: ST

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