Technical Pulse: Singapore O&G Ltd May 4, 2017 40

Singapore O&G Ltd  – Daily timeframe (Update from 7 April 17)


Current Sentiment: Bullish

Support 1: 1.350                   Resistance 1: 1.440

Support 2: 1.280                   Resistance 2: 1.500

Strong uptrend here with the 20 and 60 day moving average repeatedly propelling price higher. Lately, price continued to break new record high showing relentless strength.

Continue to buy the dips in conjunction with bullish price action off the 20 and 60 day moving average if the correction appears.

Note: Our current fundamental view on Singapore O&G is a Buy rating with a fair value of $1.570.

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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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