May 4- Classical Support Turn Resistance - SGX and GoldenAgri

May 4 - TA for SGX and GoldenAgri

Both stocks have similarity in nature, I explained as below
1- Trend - Both of trending down (confirmation by MACD -ve range, Price below all Moving Average 20,50,100,200D
2- Momentum - Oversold
3- Both have classical Support turn Resistance

• GoldenAgri  - Support @ 0.635
• SGX - Support @7.32

4- Volume - Both have above average (1.3x) selling pressure

Support turn resistance is a critical level for a stock. Once it is broken, it will usually test its new support.   Ironically, to break a support it doesn't need HIGH/LOW volume and to break a resistance it needs HIGH volume. Both seem to have a side trading pattern. Meanwhile, GE result is important for the STI direction and market seems to anticipate a lesser vote for ruling party-PAP.