CFD Trading – Sell SingTel (Z74.SGX) at $2.51, Stop at $2.64 and Target at $2.34

SingTel Stock Code Z74.SGX

Price was resisted at the lower edge of the cloud for the past two days and yesterday, there was a bearish Engulfing candlestick pattern. This candlestick price pattern is hinting of a price decline ahead. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago and is below the cloud at the moment, confirming the bearish trend. MACD is bearish. Both of MACD lines are below the zero line, hinting of a bearish trend. We expect price to move down to the gap zone at $2.34

$2.51                 Short Sell
$2.34                 Price Target
$2.64                 Risk Management Stop
3 weeks Trade Duration

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