SGR trade ideas
SGR - Waiting for the downward trend to endNotes: 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
Retracement onto a support along with a bull flagP.S. newbie analysis here. would be nice to have some feedback. Cheers
Seems like a pullback is happening after a bull run from the announcement from SGR. Currently there is a bull flag forming and might bounce back on the $2.93 (0.382) as it is one of the solid support. Once the market structure starts to change, it might be a good indicator for the bull run to happen again.
$SGR.ASX needs to break out from this level.$SGR.ASX
The Star Entertainment Group is engages in the management of integrated resorts with Gaming, entertainment and hospitality services.
it operates through the following business segments in Sydney, Gold coast and Brisbane.
Market Cap : 2.509B
Total Shares Outstanding : 915.613M
Price to Earning Ratio : 21.1679