On Friday, SGX broke the major support at $7.84 and closed at $7.78 with HIGH volume of 4.78 million shares traded.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are bearish though RSI in oversold region.

Important Resistance of SGX: $7.84

Immediate Support of SGX: $7.62

Currently prices are well below 20/50/100/200 days MA.

For the past 2 trading days, there has been heavy selling which pushes the prices below the support of $7.84.

Although we do not understand the reason behind but we do realize that whenever there is news of merger for SGX, it will trigger heavy selling pressure.

SGX is trending downward with little signs of rebound thus we urge not to buy till the merger ...