Hi-P Stock Code H17.SGX
Outlook
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.
Strategy
$1.18 Buy
$1.38 Price Target
$1.02 Risk Management Stop
3 weeks Trade Duration
