SIA Potential Rebound
Published On: 17 February 2023, 3:20PM | Sean Ng, Dealer
- As we can see, price has broken out from the consolidation zone as of 13th Jan 2023 with strong volume and has recently pulled back to touch the blue 20 EMA line.
- RSI also appears to be forming a sub-pattern, rebounding off the 45.16 support level where it previously corresponded to a rise in price.
- Traders can potentially take a long trade here.
- If price rises, we can take profit at around S$6.02, the previous swing high.
- If price trends downwards, we can look to cut loss if price breaks strongly below the red 50 EMA line.
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