CFD Trading – AEM & Sheng Siong

AEM Stock Code AWX.SGX

Price has declined below the cloud starting a bear trend. This was confirmed by a bearish crossover from Conversion and Base lines. Lagging Span also confirms the bearish trend with its line below price of 26 periods ago and also below the cloud. Currently price is just above a 9-month uptrend line. However price has closed a Runaway Gap, which is not a good sign for the bulls. Fibonacci 50% correction point of the rally from the low in Jun 2019 to the recent high at $2.30 comes in at $1.55. This has been breached and the next target is the Fibonacci 62% correction point at $1.37. Ichimoku V price structure also has a price target of $1.32. MACD is bearish and both its lines are moving lower. Both of MACD’s lines are also deep below the zero line.

$1.56                 Short Sell
$1.32                 Price Target
$1.70                 Risk Management Stop
3 weeks             Trade Duration

Sheng Siong Stock Code OV8.SGX

Price has been declining and 2 days ago, price hit a low at $1.00 and has a bounce up to $1.10. This bounce was capped by a strong price resistance at $1.10 and we think there should be another decline to test the low of $1.00 or even lower as MACD is still bearish. MACD is still moving lower. The trend is bearish, which are confirmed by Conversion and Base lines as well as Lagging Span.

$1.10                 Sell
$1.00                 Price Target
$1.16                Risk Management Stop
3 weeks            Trade Duration

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