Technical Pulse: Cogent Ltd May 4, 2017 35
Cogent Ltd – Daily timeframe (Update from 22 March 17)
Current Sentiment: Bullish
Support 1: 0.790 Resistance 1: 0.860
Support 2: 0.730 Resistance 2: 0.900
Buyer successfully steer the ship back into the long term uptrend recently after the 20 day moving average crossed above the 60 day moving average on 23/01/17.
Price is currently moving in a gentle correction within the uptrend with the 20 and 60 day moving average ready to support price.
The next bullish break above the pullback line should usher in more buyers for price to resume the uptrend.
Note: Our current fundamental view on Cogent is a Buy rating with a fair value of $1.080.
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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.