CFD Trading – Buy CNMC Goldmine(5TP.SGX) @ $0.300. Stop at $0.255 and Target at $0.383

CNMC Goldmine Stock Code 5TP.SGX

Outlook
Price broke above the cloud on 18 May 2020 and has stayed above the cloud since that day. On the 27 July, there was a strong big candlestick when price broke above its 52 weeks high at $0.290. Price reached a high of $0.385 and there was a quick decline that brought price down to the Base line support at $0.297.  This is also close to the Fibonacci 50% correction point of $0.291. This could also be a sign the current correction could have ended and price is about to start a bullish trend again. Conversion and Base lines had a bullish crossover earlier. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD is bullish. Both of MACD lines are high above the zero line, hinting of a bullish trend.  We expect price to move higher to the previous high of $0.383 if price can stay above the Base line.

Strategy
$0.300                Buy
$0.383                Price Target
$0.255                Risk Management Stop
3 weeks Trade Duration

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