ST Engineering Stock Code S63.SGX
Outlook
For the past 3 days, price had oscillated around the cloud. Yesterday, price closed below the cloud and also below the first day when price broke below the cloud. Price also formed a bearish Engulfing pattern, which is a bearish price pattern. Price also broke below a 3-month trend channel. This could be the start of a new bearish price trend. With price below the cloud, Conversion and Base line had a bearish crossover three days ago, confirming the bearish trend. Lagging Span is below price of 26 days ago but Lagging Span is inside the cloud but near to the edge at the moment. MACD is still bullish but both lines are falling with the fast line already below the zero line.
Strategy
$4.07 Sell
$3.89 Price Target
$4.21 Risk Management Stop
3 weeks Trade Duration
Wilmar Stock Code F34.SGX
Outlook
Price broke below the trend channel lower line three days ago and also below a previous price low. This could be the start of another downtrend after price failed to move above the cloud after establishing the previous low at $3.82. Conversion and Base lines also had a bearish crossover a few days earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago as well as below the cloud, confirming this sell signal is a strong bearish signal. Price’s break of the $3.82 low also formed an Ichimoku reversal with the V price structure calling for a price target of $3.41. The N price target is $3.67. MACD is bearish with both its lines below the zero line. Both lines of MACD are also moving lower, hinting of further price declines.
Strategy
$3.85 Sell
$3.53 Price Target
$3.97 Risk Management Stop
3 weeks Trade Duration
