CFD Trading – Buy Hi-P (H17.SGX) @ $1.27. Stop at $1.18 and Target at $1.48

Hi-P Stock Code H17.SGX

Outlook
Price broke above the cloud on the 11 May and has stayed above the cloud. After reaching a high of $1.32, price has been declining but had stayed above the cloud. A price correction has managed to stay above the cloud on 2 occasions, maintaining the bullish trend. Yesterday, price had managed to move above its recent range high and could be moving higher to $1.48 in the next couple of weeks. Conversion line and Base had a bullish crossover, hinting of the bullish trend. MACD has a bullish crossover just below the zero line and is hinting of a price rally ahead.

Strategy                  
$1.27                 Buy
$1.48                 Price Target
$1.18                 Risk Management Stop
3 weeks              Trade Duration

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