Dairy Farm USD Stock Code D01.SGX
Outlook
Price broke below the cloud on 17 July 2020 but it was in the form of indecision Doji. However, yesterday there was a large black candle which dropped below the cloud, reinforcing the bearish trend. Conversion and Base lines had a bearish crossover earlier confirming the bearish trend. Both Conversion and Base lines are also declining and above price at the moment. Lagging Span is below price of 26 days ago but is inside the cloud at the moment. MACD has turned bearish with both of MACD’s line now below the zero line. We think price is likely to test the first support at $4.20 and most likely declined to $3.97 in a longer term.
Strategy
$4.60 Short Sell
$4.20 Price Target
$4.78 Risk Management Stop
3 weeks Trade Duration
