CFD Trading – DBS & City Dev

DBS Stock Code D05.SGX

Outlook
Price broke above the cloud on 3 June 2020 with a strong and big candle. Price rose to a high of $23.58 5 days later. Since that high, a price correction brought price down to $21.03, which was also the Base line support. Price is currently below the Conversion line but above the Base line. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and above the cloud as well, confirming the strong bullish trend. Price is also likely to be supported by a rising trend line, whose point is also the gap support at $20.49. MACD is bullish but its fast line is moving lower. However the fast line could be turning around the zero line. Both of MACD lines are above the zero line as well. We expected price to move lower but to stay above the upper edge of the cloud and later a recovery to the recent price high at $20.60.

Strategy
$20.90 Buy
$23.55 Price Target
$20.15 Risk Management Stop
3 weeks Trade Duration

City Dev Stock Code C09.SGX

Outlook
Price broke above the cloud on 5 June 2020 and rose to a high of $9.30 on 8 June 2020. The high on 8 June was in the form of a Hanging Man candlestick price pattern, hinting of a correction. Since that high, a price correction send price lower to $8.26. However the decline managed to stay above the cloud, keeping the bullish trend intact. Price is capped by the Conversion line but is above the Base line. Conversion and Base lines had a bullish crossover earlier, confirming the bullish trend. Lagging Span is above price of 26 days ago but is inside the cloud, hinting of a not so strong bullish trend. Lagging Span is near to the upper edge of the cloud and a move above the cloud would turn the trend bullish. MACD is bullish and consolidating above the zero line and its fast line could be about to turn up from the zero line, hinting of a price rally ahead.

Strategy
$8.47 Buy
$9.47 Price Target
$8.06 Risk Management Stop
3 weeks Trade Duration


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