Hi-P Stock code H17.SGX
Outlook
The uptrend since the turn of the year brought price up to $1.81 from a low of $0.83 at the beginning of the year. The decline from the high of $1.81 may have ended at $1.40. Price was supported by the edge of the cloud as well as the Fibonacci 50% point of the rally from the beginning of the year to the high at $1.81. Yesterday, there was a bullish Engulfing candlestick pattern. This is a reversal candlestick pattern. This is a signal that the decline could be over and price could be about to start a rally that could bring it back up to the high of $1.81 again. MACD is bullish and the faster MACD line could be about to turn up again.
Strategy
$1.43 Buy
$1.81 Price Target
$1.29 Risk Management Stop
4 weeks Trade Duration
AEM Stock Code AWX.SGX
Outlook
Price started a rally on 26th Dec 2018 from $0.79 to a high of $1.29. Since the high, price has gone through a correction and that correction may have ended at the Fibonacci 50% correction point of the previous rally at $1.04. The low of $1.04 was also at the edge of the cloud, so price did not see a change in its bullish trend since late Dec 2018. Yesterday, we saw a price move that went below $1.04 but closed near the high at $1.10. This could be another sign of a reversal. Volume yesterday was also stronger than the previous 4 days of declining price. MACD is at the edge of the zero line and a turnaround would add further confirmation to the reversal. We think price could be heading for the high of $1.29 again.
Strategy
$1.09 Buy
$1.29 Price Target
$0.970 Risk Management Stop
4 weeks Trade Duration
