Technical Pulse: SingMedical Ltd December 6, 2016 34

SingMedical Ltd  – Daily timeframe  (Update from 22 Nov 16)


Current Sentiment: Bullish

Support 1: 0.420                   Resistance 1: 0.475

Support 2: 0.410                   Resistance 2: 0.490

The lack of bullish follow through after the last update resulted in further correction in price but the uptrend remains intact. The confluence of 20 day moving average and 0.420 support area held price up once again and some sign of strength showed up recently.

There was an increasing volume bullish break above the 0.440 immediate range high and 20 day moving average on 05/12/16 suggests further upside next.

Expect price to trend higher next to test the 0.475 resistance area followed by 0.490.

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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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