Join our Telegram channel (50,000+ subscribers) for daily market analysis & trading tips: t.me/synapsetrading
This is the weekly chart of Sakari, and we can see that it has had 10 consecutive weeks of decline. This shows that it is obviously on a downtrend, although the possibility of a pullback is quite high seeing how extended the move is. That said, new lows are expected after the pullback, since the support of 1.57 has been broken. The next support I can find is at 0.73, but that is very far, so a trailing stoploss is recommended instead if one chooses to short on the pullback. I will be watching it closely.
Our flagship mentoring program is suitable for both beginners and advanced traders, covering the 4 strategies which I used over the past 15 years to build up my 7-figure personal trading portfolio.
If you're looking for the best trading opportunities every day across various markets, and don't want to spend hours doing the research yourself, check out our private Telegram channel!
If you're looking for a reputable brokerage that covers all products (SG stocks, US stocks, global stocks, bonds, ETFs, REITs, forex, futures, crypto) and has one of the lowest commissions, this is what I currently use.
Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.