Yangzijiang Shipbuilding Stock Code BS6.SGX
Outlook
Yesterday, price closed above the cloud. Conversion and Base line had a bullish crossover and both lines are trending up. Lagging Span is above price of 26 periods ago but it is still within the cloud. The downtrend that started on July 26 till yesterday could be over. MACD is also bullish with both its lines above the zero line. However MACD histogram is rather flat, which is a sign of a weak trend. If price can stay above the cloud, we think price could be heading to the Fibonacci 50% of the decline starting from 23 July to the low at $0.755, which comes in at $1.15. The Fibonacci 62% correction point at $1.24 could be another target if MACD histogram picks up strength.
Strategy
$1.05 Buy
$1.15 Price Target
$0.99 Risk Management Stop
3 weeks Trade Duration
DBS Stock Code D05.SGX
Outlook
Price was supported around $25.60 for 5 consecutive days and yesterday, the price pattern was in the form of a Hammer candlestick price pattern. This could be a hint of a possible price reversal from the $25.58 price low. During the correction, both Conversion and Base lines stayed bullish. Lagging Span is above the cloud and above price of 26 periods ago. MACD is also bullish with both its lines above the zero line. Price could be heading up to $26.80 again if it can move above the recent high of $26.00.
Strategy
$25.62 Buy
$26.80 Price Target
$25.02 Risk Management Stop
3 weeks Trade Duration
