The price chart of Scentre Group (SCG) has just triggered a Death Cross (50-day moving average below 200-day moving average). Historically, this price pattern hasn't been that deadly for SCG. Since listing in 2014, a Death Cross has been observed on 5 previous occasions (first event in at least 20 rolling trading days). Each Death Cross signal resolved to the...
Strong price action underneath a resistance line. A break here will see scentre group fill some gaps on the way up.
Entry here with a stop at $2.75 for a medium-long term hold.
My trading Bias for SCG is Bullish as it has clearly bounced off the lows (Support), with a decisive break and close above the Bearish Trendline coupled with very High Volume . MACD has given a Bullish Cross and RSI has come out of the Oversold region. I am expecting a breakout with energy, and expecting a potential 7-8% gain.
TP ~ $3.00 - $3.10
Stoploss -...
Scentre Group Limited is a shopping centre company with retail destinations operating under the Westfield brand in Australia and New Zealand. The corporation undertakes ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities for its centres.
- Price is still at levels last seen 6 years ago as a...
