SGR - Waiting for the downward trend to end
Notes: Newbie trying to learn technical analysis and not a financial advice. Please comment if you think there is any incorrect point on the analysis. Thank you.
1. SGR has been in a downward trend since the end of December
2. Now SGR is close to the downward trend resistance again and we will see if SGR can break through the downward trend.
3. If SGR can successfully broke through the downward trend resistance. We will wait for a pull back to retest the support around 3.60 - 3.65.
4. Once the support holds, that means a lower high will formed and it might start an upward trend
1. SGR has been in a downward trend since the end of December
2. Now SGR is close to the downward trend resistance again and we will see if SGR can break through the downward trend.
3. If SGR can successfully broke through the downward trend resistance. We will wait for a pull back to retest the support around 3.60 - 3.65.
4. Once the support holds, that means a lower high will formed and it might start an upward trend