Singapore Stock Trading Insights | Joey Choy
Sunningdale Tech: Can the selling continue? Price 0.82. The worst may not be over!
Just beginning of last week, we saw Sunningdale Tech approaching the 1.20 support level bearishly.It has been holding above this support for more than 3 years since 2017 and seems like buyers were not able to hold on any longer..Some downside targets were drawn as a result with first target being at the psychological 1.00..From trend indicators, we were starting to see downtrend continue further…Especially on any firm bearish price actions at 1.20..See what I mean below. Not a good sign for sure..A Descending Triangle pattern spotted also which can see more weakness…A few days passed and we have indeed seen more selling towards the 1.00 support level..There were some short covering near 1.00 but then..Buyers were not able to hold too on market weakness and support just gave way