SingTel Stock Code Z74.SGX
Outlook
Price broke above the cloud two days ago. This could be the start of a new bullish trend for this stock. This stock has built a base, twice building support around $3.10 over a three month period since early August 2019. Now price has moved above the cloud. Both Conversion and Base line also had a bullish crossover confirming the bullish trend. Recently price has been well supported by the Conversion line. MACD has turned bullish with both its lines above the zero line. Price is likely to move higher to test the gap zone from $3.40 to $3.43. There is also a previous price low which is now acting as resistance at $3.45. We think the strong price momentum should be able to bring price higher to $3.43 to test this resistance zone within the next 10 days.
Strategy
$3.35 Buy
$3.45 Price Target
$3.28 Risk Management Stop
10 Days Trade Duration
Wilmar Stock Code F34.SGX
Outlook
Price moved above the cloud on Thursday and Friday after being in a bearish trend for the past two months. The breakout candle was a strong white candle and its size was larger than the previous candlesticks before it. Volume on 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. Price has been staying above the Conversion line, which is a sign of a strong uptrend movement. Using an Ichimoku V price projection, we get a price target of $4.00. The previous price resistance is at $4.09. These zones are likely to cap price advance.
Strategy
$3.84 Buy
$4.00 Price Target
$3.78 Risk Management Stop
10 Days Trade Duration
