Shares & Derivatives
Sing Medical – Chart seems to be strengthening (13 Feb 2019)
By Ernest Lim's investing blog  •  February 13, 2019
This week, Sing Medical’s (“SMG”) caught my attention. At the time of writing this write-up, SMG is trading +0.005 to $0.430. Day range 0.425 – 0.430.

 

Some interesting observations on SMG

a) Chart seems to be strengthening

Based on Chart 1 below, SMG seems to have breached the near term downtrend line established since Mar 2018. Today is T+7 of the sharp upmove dated 31 Jan 2019 thus, I guess those contra players (who plan to contra and not hold the stock) have already exited. Indicators such as OBV, RSI and MACD are strengthening. ADX last trades 34.5 on 12 Feb 2019 amid postively placed Dis, indicative of a trend. Except for 200D SMA and 200D EMA, other EMAs are trending higher with a couple of golden cross formations being formed.

Incidentally, DBS also has a bullish technical call on SMG today.

My personal view is that SMG’s chart

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By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.
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