Daily BriefsSingapore

Singapore: Grab and more

In today’s briefing:

  • GRAB New Low in Store for a Basing Process – Where We like Buying.

GRAB New Low in Store for a Basing Process – Where We like Buying.

By Thomas Schroeder

  • GRAB exhibits overhead sell pressure with a new low in sight. Basing for a key low as selling pressure diminishes and the stage sets up for a cycle trough.
  • RSI bull divergence (squeezing out latent sellers, as sell volumes/ downside momentum diminish). RSI near sub 30 should set up a key low as a counter marker.
  • Ping the long side near 4.60, a weak bounce would place an emphasis on the 4.0 ideal low projection. 7.55/64 is the level to clear for bull traction.

Before it’s here, it’s on Smartkarma