CFD Trading – First Resources & Bumitama Agri

First Resources Stock Code EB5.SGX

Price was supported by the cloud back in late October 2019 and has rallied to a high of $1.88 on 25 Nov 2019. A correction that occurred after the high had brought price lower to $1.74 and yesterday, the rally of this correction low moved above the resistance of high of $1.81. If the correction is over at $1.74, price is likely to move higher to the Fibonacci 127% price projection target of $1.98 to complete the rally that started from the low of $1.44 back on the 4th of September 2019. Base line is moving higher and since the break up above the cloud, Base line has supported price movement higher. MACD is still bullish and is starting to rise again.

$1.82              Buy
$1.98              Price Target
$1.69              Risk Management Stop
3 weeks         Trade Duration

Bumitama Agri Stock Code P8Z.SGX

Price broke above the cloud in early Nov 2019 and has been climbing higher. There was a short period of consolidation but 2 days ago, price broke above a recent high. Both Base and Conversion lines are moving up and their gradients are steep, which is a hint of a strong trend. The next resistance point is the price high of 2019 at $0.73. A break of this level is likely to see price moved to the Fibonacci 261.8% of the rally from $0.54 to the high of $0.62, which comes in at $0.75. MACD is bullish and is likely to climb higher, hinting of a price rally higher to $0.75

$0.710              Buy
$0.750        Price Target
$0.685              Risk Management Stop
10 Days            Trade Duration

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