Japfa Stock Code UD2.SGX
Outlook
Price broke above the cloud yesterday and closed above the cloud as well. It also closed above a recent high at $0.605. An Ichimoku reversal was formed with price closing above this recent high. The price target for this Ichimoku reversal is at $0.665, which is just above the high of $0.660. Conversion and Base lines had a bullish crossover below the cloud. Lagging Span is above price of 26 periods ago and above the cloud as well, hinting of a bullish trend. MACD is bullish with both its lines above the zero line but both its lines are close to the zero line.
Strategy
$0.605 Buy
$0.660 Price Target
$0.560 Risk Management Stop
3 weeks Trade Duration
First Resources Stock Code EB5.SGX
Outlook
Price is in a downtrend as price is below the cloud and both Conversion and Base lines are moving lower after a bearish crossover earlier. Lagging Span is also below price of 26 periods ago and below the cloud as well, hinting of a bearish trend. However on 4 Mar 2020. Price has a classic Hammer candlestick price pattern. This is a strong bullish reversal signal from price. While the trend is down, we think the Hammer candlestick is a sign of a bottom in place and a reversal in trend going forward.
Strategy
$1.540 Buy
$1.660 Price Target
$1.460 Risk Management Stop
3 weeks Trade Duration
