On Friday, SMRT continue to undergo heavy selling pressure and closed at $1.685 with HIGH volume of 4.41 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 near oversold region.

Important Resistance of SMRT: $1.71

Immediate Support of SMRT: $1.64

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

SMRT had a massive sell down on 25/Aug due to the announcement that SMRT plan to spend S$900 Mln in upgrading rail operations.

For the past 3 trading sessions, SMRT has been under heavy selling pressure and this is a bearish signal.

The support at $1.64 is expected to be strong.

Do not suggest catching a falling knife yet. Wait for consolidation before entry will ...