Koufu Stock Code VL6.SGX
Outlook
Price broke above the cloud on the 3 June and has stayed above the cloud since that breakout. Price reached a high of $0.725. A price correction which brought price lower to $0.665, which was inside the cloud maintaining the bullish trend. On 6 August, price moved above the Base line, hinting of a bullish trend. However, Conversion and Base lines are unable to confirm the bullish trend. MACD is bullish and we could be seeing a bullish MACD crossover soon. If price can stay above the cloud, we see price testing its previous high of $0.800 again.
Strategy
$0.695 Buy
$0.795 Price Target
$0.655 Risk Management Stop
3 weeks Trade Duration
