Singapore Stocks: Sakari Resources – Resumes Downtrend

 

The long-term downtrend line is still respected for Sakari, confirming its continued weakness. After a 2-legged pullback which went through the EMA, I was watching for a test of the trendline to initiate a short, and the signal is indicated by the blue arrow. I am expecting a test of $1.16, the previous swing low.

Cheers
Spencer

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About the author

Spencer Li is a trader, investor and entrepreneur who currently manages his own portfolio of stocks, REITs, currencies, cryptocurrencies, properties, and businesses. As a former professional in private equity and proprietary funds, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media. As an international speaker and avid globetrotter, he has travelled to over 50 countries to spread his knowledge.

 

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