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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Featuring regular TA posts and requests to analyse specific stocksAbout the author
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.