SGX is one of the counter I’ve been monitoring.
Covered it on 5 October earlier. https://devouryourfear.wordpress.com/2015/10/05/sgx-5-october-2015/
Looking back, SGX managed to break cross the 78.6% fibo, which is good. Now, it seems like the counter is being resisted at 61.8% level, which is $7.60.
If we look at the 20 days moving average, we can see that the red line seems to be stabilising much better. MACD is showing a bullish signal.
I think that the stock might trend down slightly, looking at the technical aspects. Furthermore, markets like HSI and STI closed down. If the US market closes down today too, I think it is likely to see a lower SGX price.
Possible price to retrace to: $7.34 – $7.40 area
A breakout above $7.78 would be good!