Since 5 Jan 2015, Guocoleisure has been trading within a range of $0.910 – 0.980. With reference to Chart 1 below, Guocoleisure’s exponential moving averages (“EMAs”) seem to have formed golden crosses. ADX has also risen from the low of 11.2 on 9 Apr 2015 to 28.9 on 26 May 2015. This signifies that the trend seems to be strengthening. Price action also seems bullish.Barring unforeseen circumstances, there is an increasingly high likelihood that it may stage an upside breakout from its four month plus trading range of $0.910 – 0.980 in the next couple of months. Measured eventual technical target is S$1.050. Guocoleisure closed at $0.960. Day range was […]