Chart Source: Poemsview 11th Sept 2018
Suuningdale Tech one of Singapore’s electronic stock looks like its slowly drifting down. The simple moving averages are starting to point down but they have yet to cross each other.
As moving averages are also lagging indicators, waiting for them to cross over as a signal can sometimes be a little too late.
We have drawn a uptrend support line and breaking below that might signal more downside. What might play out could be a slight bounce on the uptrend line but any bounce might give us an opportunity to short.
The Downtrend line serves as a resistance which we feel might be tough to breakout from it at this point of time.
Many electronics stocks in Singapore have turned down and we hope that you haven’t been trying to bottom-pick them. In fact, we have already been shorting some of them.
Want to know more about sunningdale tech’s movement?
Contact Us and we’ll be more than willing to share our view with you.