Sembcorp Ind Stock Code U96.SGX
Outlook
Price has not managed to move much into the cloud; instead price has been capped by the lower edge of the cloud. Both Base and Conversion lines had a bearish crossover, hinting of a bearish trend ahead. Price has a resistance at $2.49 and as long as price stays below this resistance, and unable to move above the cloud, it is likely to decline to test the low of $$2.32 again. MACD is still bearish and below the zero line. A break of the support line is likely to accelerate the downtrend for a move below $2.32.
Strategy
$2.42 Sell
$2.32 Price Target
$2.50 Risk Management Stop
3 weeks Trade Duration
SIA Stock Code C6L.SGX
Outlook
Price broke above the cloud two days ago but yesterday, despite the black candlestick, was able to stay above the cloud and closed above a recent resistance as well. As long as price stay above resistance of $9.56, price should be heading higher to the next resistance point at $9.93. Price is currently supported by Conversion line and is above the Base line. Both Conversion and Base lines have a bullish crossover some time back before price move above the cloud. MACD is bullish and both lines of the MACD indicator are moving higher, hinting of an uptrend in price.
Strategy
$9.58 Buy
$9.88 Price Target
$9.44 Risk Management Stop
3 weeks Trade Duration
