Technical Analysis: Global Strategic Holdings Corporation Limited October 24, 2016 6
GSH Ltd – Daily timeframe (Update from 09 Sept 16)
Current Sentiment: Bullish
Support 1: 0.300 Resistance 1: 0.365
Support 2: 0.270 Resistance 2: 0.390
Price continued to correct instead after the last update due to the lack of bullish follow through. Nonetheless, a strong base was formed around the 0.300 support area as buyers defended that level relentlessly.
Additionally, price broke the pullback line notably with increasing volume on 21/10/16 suggests further upside next.
Expect price to rise next to test the 0.365 resistance area followed by 0.390
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Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd
Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.
He is also a regular columnist on The Business Times - every Monday ChartPoint column.
He graduated with a Bachelor of Science in Banking and Finance from University of London.