Outlook
Price has been moving higher after breaking above the cloud since 6 July. Both the conversion and base lines are still moving higher, indicating that the increased upward momentum. The Lagging Span is above the price of 26 days ago, and also above the cloud, confirming the bullish trend. The MACD is also bullish as both of the MACD’s lines are above the zero line, and is still moving higher. As long as price stays above the gap that created on 9 July at $1.89, we are likely to see it moving higher towards the next resistance at S$2.30.
Strategy
$2.08 Buy
$2.30 Price Target
$1.88 Risk Management Stop
2 weeks Trade Duration
