We Need to Talk About Buying the Comfort Delgro dip
Good day traders!
And here is why:
1.) The price has been in a descending trend on the monthly chart since the beginning of June 2015 to date.
2.) The price is about to test a key support area at 1.25, where it has rejected multiple times since 2009.
3.) There may be some opportunities for a buy entry at the 1.04 level, which corresponds to the -61.8% Fibonacci expansion.
4.) Despite the stock being removed from Singapore's Straits Times Index (STI) for falling below the top 30 listed companies in terms of market capitalisation and liquidity, brokers maintain a 'buy' call.
Does anyone have a similar bullish view?
Trade Entry recommendations:
Buy Entry: 1.04
Take Profit: 1.90
Stop Loss: 0.70
Other tickers to recommend:
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TRIUMPHANT RETURNS : Let see if it retouched the 1.25 to 1.28 zone a few times next week
GM 1 : Stay away From this stock. Many other Better deals in The market