CFD Trading – Sell Japfa(UD2.SGX) @ $0.660. Stop at $0.705 and Target at $0.585

Japfa Stock Code UD2.SGX

Price broke above the cloud on 20 April 2020 and has stayed above the cloud since that day. Price reached a high of $0.725 on 23 June 2020. This could be the high as there was a divergence warning from MACD. Price has been making lower high since that high. Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago but is above the cloud at the moment. MACD is bearish but is near to the zero line. MACD is about to show a bearish crossover. We think price is likely to move to the gap support at $0.580

$0.660                Sell
$0.585                Price Target
$0.705                Risk Management Stop
3 weeks Trade Duration

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