#ARBUSDT The good news is that the market is now turning green. All is well that ends well.
After consecutive declines, the price has reached its descending trendline, which seems to be about to break, so we can wait for the trendline to break and then decide to enter. It will be a good opportunity and can give us good profits.
BY Technical CRYPTO Analyst
The Singapore stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had added more than a dozen points or 0.4 percent. The Straits Times Index now sits just above the 3,060-point plateau and it's likely to see a narrow trading range on Monday.
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
Technical CRYPTO Analyst from nl