ComfortDelgro Trading towards Trendline

ComfortDel (C52)
Price marked up this after Public Transport Council (PTC) announced that fares are expected to increase up to 7% for 2019.

On the charts, Price traded back to previous low of S$2.40 which proofs to be a support price for ComfortDelgro.

Currently, stock is outperforming STI as Relative Strength indicator is above zero which is a preferred candid for Long trades.

With momentum indicator MACD turning bullish, we are expecting price to retest its downward trend which is a a fibonacci 38.20% retracement level.

Stop loss for trade analysis is S$2.42

Public transport fares may increase by up to 7%: PTC - CNA

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