CFD Trading – Buy SingTel (Z74.SGX) @ $2.28. Stop at $2.20 and Target at $2.43

Singtel Stock Code Z74.SGX

Price broke below the cloud in late May and has stayed below the cloud since that day. The price correction has come down to the gap zone support from $2.28 to $2.26. Conversion and Base lines do not have a bullish crossover as yet. Lagging Span is below price of 26 periods ago and also below the cloud, hinting of a bearish trend. MACD is below the zero line and is still bearish at the moment. However if price can stay above the gap zone support, we could see a reversal of the downtrend and a likely move to the lower edge of the cloud.

$2.28                 Buy
$2.43                 Price Target
$2.20                 Risk Management Stop
3 weeks             Trade Duration

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