SGX has been drifting in a range since the merger-euporia-rally, and the high volume fall. From the arithmetic chart below, it is evident that a move eitherways in required. Currently sitting on previous support of $8.25 and the rising trendline, with the 200-day MA not far below, chances of a bounce here outweigh a decline - by a bit. I may go long here, with a suitable stop.
Upside targets: $8.70 initially, followed by $9.20
Downside support: 200-day MA initially, followed by $7.70
Remaining bearish on the long-term picture as well as the merger. All the best!
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