Sunpower Group Stock Code 5GD.SGX
Outlook
Trading Buy Range: S$0.585-0.59
Last price: S$0.57
Target price: S$0.645 / 0.70
Protective stop: S$0.51
The stock has been trending higher and moving above the cloud. Both the conversion and base lines are moving higher and a bullish Tenkan-Kijun crossover is likely in the coming session. The MACD is bullish at the
moment and a positive MACD crossover is likely in the coming session. These could increase chances of the stock penetrating above its recent high.
We see increasing odds of stock price testing S$0.645 and S$0.70. Stops could be placed at S$0.51.
Approximate timeframe on average: 2-3 weeks
(initiate this trade idea if the stock hits the entry
price range within three trading days)
Our institutional research has a fundamental BUY
and target price of S$0.83.
