SGX (SGX: Z68) strong rally after the breakout of the expanded flat in early March is stronger than expected. This was especially after the stock broke the 10.00 psychological barrier, reaching a high of 10.70. Although there is a correction entering late April, May’s performance seems rather positive with the current technical supporting the continuation of the bullish trend.
*Timeline of the trade should be between 1-3 weeks from the date issued.
*Another potential rebound level to lock on is at 61.8% region from 9.02-9.20, which is a key demand area.
Red dotted line = 200 SMA
Blue dotted line = 50 SMA
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