DBS Bank Stock Code D05.SGX
Outlook
Price broke above the cloud yesterday. This could be the start of a new bullish trend for this stock. This stock has built a base, twice building support at $24.00 over a four month period since June 2019. Now price has moved above the cloud and its previous price high resistance at $25.60. Both Conversion and Base line also had a bullish crossover confirming the bullish trend. Volume on the day of the breakout was also higher than the previous few days. MACD has turned bullish with both its lines above the zero line. Using an Ichimoku V price projection, we have a price target of $26.80. Using an Ichimoku E price projection, we have a price target of $27.20. There was a price high resistance at $27.03 and also a gap from $26.97 to $27.47. Price should be able to move to the target zone of $26.80 to $27.03.
Strategy
$25.70 Buy
$26.80 Price Target
$24.90 Risk Management Stop
10 Days Trade Duration
Japfa Stock Code UD2.SGX
Outlook
Price moved above the cloud yesterday after being in a bearish trend for the past seven months. Before the breakout above the cloud, there were already signs of a low and base forming with MACD divergence warning of a possible bottom back in September 2019. The breakout candle was a strong white candle and its size was larger than the previous candlesticks before it. Volume of the day of the breakout was also much larger than usual. These are good signs for the breakout. Both Conversion and Base lines also had a bullish crossover a few days before the breakout and both lines are moving higher as well. Using an Ichimoku E price projection, we get a price target of $0.58. There is a price resistance at $0.595. These zones are likely to cap price advance.
Strategy
$0.505 Buy
$0.580 Price Target
$0.465 Risk Management Stop
10 Days Trade Duration
