CFD Trading – Sell City Dev @$8.10. Stop at $8.60 and Target at $7.25

City Dev Stock Code C09.SGX

Price broke below the cloud on 18 Aug 2020 after an attempt to break above the cloud failed at $8.45. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago but is still above the cloud at the moment. MACD is bearish but is near to the zero line. There was a bearish crossover from MACD hinting of a bearish trend ahead as well. Price is likely to continue lower to test its previous support at $7.25 in the next couple of weeks.

$8.10                 Sell
$7.25                 Price Target
$8.60                Risk Management Stop
2 weeks Trade Duration

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