(adsbygoogle = window.adsbygoogle || []).push({ google_ad_client: "ca-pub-8679583308408160", enable_page_level_ads: true });

Friday, November 25, 2016

SingPost

SingPost - 25th Nov 2016

SingPost after touching the support at 1.425 on 21st Nov 2016 it had managed to bounce off and head higher to close higher at 1.48 on 25th Nov 2016. This is quite positive.



From the chart we can notice there were two consecutive white candlesticks that is closing higher than the black candlestick on 21st Nov 2016 which is rather positive . It is kind of a confirmation of trend reversal that may signal the end of the down turn.

Both Macd & Rsi are showing sign of a positive divergence which may provide further indication that the share price may continue to head higher.

Short term wise, I think it may likely move up to test 1.50 then 1.55. Breaking out of  1.55 with good volume it may propel to drive the share price higher towards 1.65 then 1.70.
( trade base on your own decision)






No comments:

Post a Comment