Sheng Siong Stock Code OV8.SGX
Outlook
Price broke above the cloud on 8 April 2020 and has stayed above the cloud since that day. Twice during the correction price dipped close to the upper edge of the cloud. Price is again moving towards the edge of the cloud and the Base line support at 1.69. This could also be a sign the current correction may be coming to an end and price is about to start a bullish trend again. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud at the moment, confirming the bullish trend. MACD is bullish. We expect price to move higher to the previous high of $1.82.
Strategy
$1.70 Buy
$1.82 Price Target
$1.64 Risk Management Stop
3 weeks Trade Duration
