Technical Pulse: Sand China Ltd August 27, 2019 141


Support 1: 33.35                     Resistance 1: 37.20


Sands China (HK: 1928) have been moving within a range since the start of 2019. We expect a bullish reversal based on the technicals:

  1. Strong bullish hammer closing above 88.6% Fibonacci retracement of the total range. Also, the hammer closing price close above the 34.00 psychological price level.
  2. Since the bullish closure above 33.25, the stock had formed a double bottom formation.
  3. Strong RSI divergence displaying positive momentum ahead.
  4. Price has been trending lower at the bottom of the range and therefore, the probability of a strong upside is very high.



Relative Strength Index

Periods= 14

Red line= 60 overbought line

Green line = 40 oversold line

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