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"E-book" by AK

Second "e-book".

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SGX: Heavy selling.

Wednesday, March 7, 2012

SGX Centre Two

SGX's share price could go as low as $6.30 in time. This is the neckline of a reverse head and shoulders pattern which formed from November 2011 to January 2012.



However, both the rising 50d and 100d MAs should provide some support in case of further price weakness. Would they be strong enough to prevent a more drastic decline in price? Your guess is as good as mine.

If I were interested in getting in on the long side, I would pay attention to the 100d MA. See how a trendline connecting the lows of December 2011 and January 2012 seems to approximate its position? Should be a stronger support than the 50d MA and if it should go, $6.30 is the next support.


7 comments:

INVS 2.0 said...

Hi Ak71,

I am wondering if the market is entering its first correction this year?

AK71 said...

Hi INVS 2.0,

There is no doubt that this is a correction. :)

INVS 2.0 said...

Hi Ak71,

Thanks for the assurance. :)

Time to roll out our warchests. :D

AK71 said...

Hi INVS 2.0,

What did I do? I didn't do anything. Disclaimer applies. ;)

OT83 said...

Hi Ak,

Market bounce back liao, still got correction?

INVS 2.0 said...

Hi Ak71,

Ok, I am too excited. :)

AK71 said...

Hi INVS 2.0,

Today's weather is very nice hor? ;)

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