Sunningdale Tech – [ Hanging Precariously Near Support, Watch Out! ]
Chart Source: Poemsview 13th June 2018
Sunningdale Tech one of Singapore’s few electronics play had recently took a big hit and had a rebound when it got some coverage from a brokering house.
Ever since then Sunningdale Tech started to drift down and is currently sitting very dangerously on its short term uptrend line.
It tried to regain support on the 20ma but failed to do so today and closed below it. The candlestick doesn’t look good to us and any further weakness could bring us back to the previous low.
We are now watching for the break of the uptrend support line . We might initiate a short on Sunningdale Tech depending on the sentiments of the markets. We will be using Poems CFD and not naked shorting.
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