Main reason for the recent strong rally is due to the speculation of a China-Singapore Stock trading link. However, SGX refuted the “market rumours. With such rally, it is highly possible for a retracement to follow, which will be a good price entry for long term investment.
20 days ma crossed up 50 days ma
Good upwards momentum, seen from 20 days, 50 days & 200 days ma.
Stochastic signals in overbought region
Possible retracement before further upside
Entry: $8.31- $8.4