SG Stocks To Watch (Silverlake Axis)

Silverlake has reflected a Bearish Reversal Candlestick Pattern (Shooting Star), with Friday confirming the imminent correction. At the current junction, it is likely to see Silverlake Axis test its major resistance turned support level at $0.625.

Do note that price support at $0.625 will still continue to maintain the mid term bullishness (uptrend) of the counter as a healthy correction is required for the sustainability of the steepness of this trend channel.

Silverlake: Bullish Setup!

Bullish Signal: MACD Histogram 4r1g, stochastic bullish crossover. Entry price: $0.705 with volume exceeding 1.6 million by 12pm! Stop loss: $0.675 Profit target: $0.755 Reward to Risk ratio:...