Hongkong Land Stock Code H78.SGX
Outlook
Price has been on a rally since 31st Oct 2018 and we think the rally may be coming to an end. Using the Oct to Dec 2018 rally as a guide, price is now close to Fibonacci 161.8% which is at $7.21. This could be the ultimate target of the rally. While the trend is still bullish, recent price candlesticks and price gains have been getting smaller. This is a hint of price rally approaching its end. On the MACD front, while price is rising, MACD has been diverging from price direction, showing bearish divergence along the way. We do not think price can go beyond $7.22. We think a price advance towards $7.21 would be a good opportunity to get into a short position for a decline to 6.85.
US$7.20 Short Sell
US$6.85 Price Target
US$7.31 Risk Management Stop
3 weeks Trade Duration
ThaiBev Stock Code Y92.SGX Price made a low at $0.575 in late Dec 2018 and climbed higher to current high of $0.755. It looks like the rally is in need of a rest and some consolidation. The trend is still bullish but there is likely to be some correction. MACD, while bullish, is correcting from a high point. This process of price moving higher but MACD moving lower has produced a bearish divergence warning, hinting of a price correction. As the trend is still bullish, we think it would be a good idea to buy the correction near the Fibonacci retracement level at $0.69.
Strategy
$0.69 Trading Buy
$0.76 Price Target
$0.64 Risk Management Stop
3 weeks Trade Duration
