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.
https://synapsetrading.com/wp-content/uploads/2019/10/logo.jpg 0 0 Spencer Li https://synapsetrading.com/wp-content/uploads/2019/10/logo.jpg Spencer Li2012-05-26 02:49:062020-02-13 06:28:25Singapore Stocks: Sakari Resources – where is the next support?