Technical Analysis: ISOTeam Limited October 21, 2016 21
ISOTeam Ltd – Daily timeframe (Update from 25 Aug 16)
Current Sentiment: Bullish
Support 1: 0.375 Resistance 1: 0.410
Support 2: 0.370 Resistance 2: 0.425
The failure of a follow through after the last update resulted in price heading lower into a correction.
However, the uptrend remains intact as the 20 and 60 day moving average steadily supported price up on numerous occasions. In addition, the most recent bullish rejection on 20/10/16 resulted in price breaking above the 0.390 immediate range high suggests a possible move back into the uptrend.
Expect price to head higher next to test the 0.410 resistance area followed by 0.425.
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Featuring regular TA posts and requests to analyse specific stocksAbout the author
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.