GLP (technical)

GLP: OCBC technicals sees more downside ahead. Says the stock is likely to see further correction after breaching the 100-DMA and $2.02 key support recently; this was followed by a failed retest of this key level in the last session. Notes MACD is still trending lower, suggesting that the downside momentum is likely to continue. Tips key resistance-turned-support at $1.88 (coincide with uptrend support) in the weeks ahead. Sees immediate resistance at $2.02, the newly established support-turned-resistance.