CFD Trading – Buy Hi-P @ $1.18. Stop at $1.02 and Target at $1.38

Hi-P Stock Code H17.SGX

Price broke above the cloud on the 11 May and has stayed above the cloud. A price correction has managed to stay above the cloud, maintaining the bullish trend. On 6 July, at the upper edge of the cloud, price saw a large candlestick movement higher, hinting of a bullish trend. Conversion line and Base had a bullish crossover a day before that large candlestick. After reaching a high of $1.32, price has been declining but we think the Base line at $1.18 should be able to support a price decline. Lagging Span is above price of 26 periods ago and also above the cloud, hinting of a bullish trend. MACD is bullish and hinting of a price rally ahead.

$1.18                 Buy
$1.38                 Price Target
$1.02                 Risk Management Stop
3 weeks            Trade Duration

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