Singapore Exchange Ltd (SGX: S68) since SGX broke out of the inverted head and shoulder formation as reported back in 24th July and this has confirmed SGX upside despite making a minor corrective pullback. The technical has indicate that the stock has completed its correction and is heading to the upside:
*Timeline of the trade is 4 weeks from the date issued.
*The last hurdle for SGX is to break above the 200 day moving average and the resistance level of $8.90. Breaking it will ensure a smooth upside above $9.00
Red dotted line = 200 periods Moving average
Blue dotted line = 50 periods Moving average