It can go either way for SGX. Anyway, just need to wait for the release of quarterly earning result before deciding how to trade SGX.

Bullish Sign from the Chart:

• SGX rebound from 61.8% FR and looks like this support level is good from past 3 sessions.
• 2 consecutive Inverted Hammers candlesticks pattern were formed at this support level, indicate potential reversal.
• If this 61.8% Fibonacci Retracement Level is a good support, SGX has potential to reach 161.8% (about $8.00) in a few months time.
• 200D SMA support is at about $6.70 indicates limited down side risk.
• Dividend Yield of about 4% paid out quarterly should limit the selling pressure.

Bearish Signs from the Chart:

• 2/5 EMA are both bearish on daily and weekly chart.
• Head & Shoulders chart pattern are form with neckline at about $6.85. Price target for the breakout is $6.50.
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