SGX breaks medium-term uptrendline, and also the 200-day MA. This is bearish action. Currently around $8.00 round number, and may offer a back-test of $8.25. Next significant support is coming in at $7.70. As SGX did not break downtrendline since my last post, no long position was taken. For those who did, i trust that stop-loss strategies were used!
Thursday, February 24, 2011
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