Calm after the storm on SECB

SECB is in a “calm after the storm” stage right now after it drop hard early last week. Support could be seen at 130 to 128 (52 week low). One may start buying in tranches at this level. If price will go up, 20-day SMA line may act as immediate resistance before it will hit 23.6% Fibonacci Retracement level. The 20-day SMA line may meet the price at around 140.

Weekly chart doesn’t show any bullish candlestick pattern as of this time.

Caveat!

3 Responses to Calm after the storm on SECB

  1. […] around 140. Weekly chart doesn't show any bullish candlestick pattern as of this time. Caveat! Calm after the storm on SECB Reply With […]

  2. Sally Chua says:

    I like the financials of this bank ROE,cash,cash flow and earnings are all good.maybe some institutional investors are taking profits.time to begin buying this one.

  3. Rey Fong says:

    that stupid facbook,,closed my account

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