Long term chart from May 2013 to Apr 2017 shows a big support at 1.308. This support level is very important as if it cannot hold, it may trigger further downside pressure and further price weaknesses.
Short term chart shows it has been in the big range of 1.37 - 1.65 until recently 10 Feb 2017, upon poor quarterly results announcement, it gapped down from 1.49 to 1.37. After than it went lower and touched 1.305 low which is the long term big support.
Downtrend? Range?
From then, Singpost's chart has turned from range bound to downtrend as show in the downtrend channel. In order to shrug off from downtrend channel, it needs to clear up the 1.37 resistance and firmly stand above.
TA view for illustration purpose only.
Short term chart shows it has been in the big range of 1.37 - 1.65 until recently 10 Feb 2017, upon poor quarterly results announcement, it gapped down from 1.49 to 1.37. After than it went lower and touched 1.305 low which is the long term big support.
Downtrend? Range?
From then, Singpost's chart has turned from range bound to downtrend as show in the downtrend channel. In order to shrug off from downtrend channel, it needs to clear up the 1.37 resistance and firmly stand above.
TA view for illustration purpose only.
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| Long term chart (source : Poems Historical Chart ) |
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| Short term analysis (source : Poems Historical Chart ) |
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