Technical Pulse: Galaxy Entertainment Group Ltd August 19, 2019 191

Support 1: 46.21                     Resistance 1: 62.30

Support 2: 40.25                                                            


Galaxy Entertainment price has hit the lower bound of the weekly range and coincidentally, there are few strong bullish technicals on the stock.

  • Dragonfly Doji formation after 3 consecutive weeks of bearish declines certainly hints that the bear has been exhausted;
  • Dragonfly Doji closes above the Support level 1 and 78.6% of the Fibonacci retracement level of the weekly range;
  • Dragonfly Doji closes above the 200SMA;
  • RSI bullish divergence. Although the RSI shows a flat bottom, it reflects a possible exit of the bearish momentum.

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