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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About the author

Profile photo of Jeremy Ng

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.

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