On Tuesday, SGX re-test the resistance at $8.38 and closed at $8.37 with LOW volume of 1.97 million shares traded.
A white candle stick with no upper/lower shadow affirms that the investors have no qualms on buying the stocks up.
Both RSI & MACD are bullish as MACD just perform a “golden cross” today.
Important Resistance of SGX: $8.38
Immediate Support of SGX: $8.21
Currently prices are resisted by 20/100 days MA at $8.38
For the past 2 days, SGX rebounded from the support at $8.21 and re-test the resistance at $8.38.
Although we would not advise to buy SGX till the merger news is out but do monitor for any breakout at $8.38 minor resistance if interested since the prices display signs of reversal.
On Tuesday, Wilmar re-test the support at $5.58 and closed at $5.63 with regular ......