Juliac

SATS - Bullish Adam & Eve Reversal?

Long
SATS (SGX:S58)  
SGX:S58   SATS
SATS has been staging several strong rebounds since late March which failed. However the stock fell on 29 May with a massive volume but without forming a new low from the March's low. There is a chance that the weak bulls have been flushed out once and for all and that the rebound that started 2 days ago is sustainable this time, especially when it appeared to have formed an Adam & Eve base formation. Time to stake it for some upside. Long @ 3.00 with initial stop just below 2.85 and looking to scale out @ 3.28-3.30 then 3.55 and perhaps even 3.80 if lucky.

Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.

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