On Wednesday, SGX re-test the resistance at $8.36 and closed at $8.32 with HIGH volume of 11.01 million shares traded.

A black candle sticks with little upper/lower shadow indicates profit taking as investors have no hesitant in selling down the stocks.

Both RSI & MACD are bullish though RSI near overbought region.

Important Resistance of SGX: $8.36

Immediate Support of SGX: $8.21

Currently prices are supported by 100/200 days MA at $8.21.

Today SGX undergo heavy selling as investors took profit on yesterday’s gain.

We would not advice to buy SGX now especially it is at such a high price.

However if betting on the failure of the merger, it will be good to buy at the support of $8.21 since it is expected to be strong.

On Wednesday, Straits Asia re-tests the resistance at $2.70 and closed at $2.70 with ...