CFD Trading – Sell SIA (C6L.SGX) @ $3.60. Stop at $3.79 and Target at $3.30

SIA Stock Code C6L.SGX

Outlook
Since price broke below the cloud on 12 June 2020, it has not managed to move above the cloud. Recently an attempt to move above the cloud was capped by the lower edge of the cloud. Price is currently inside the cloud and near to the lower edge of the cloud but is capped by the Conversion line. A move below the Base line and below the cloud would likely trigger a resumption of the bearish trend for $3.30. Conversion and Base lines had a bullish crossover but have not yet has a bearish crossover to trigger the bearish trend. Lagging Span is above price of 26 days ago and is below the cloud at the moment. Conversion, Base and Lagging Span are inconclusive at the moment. MACD is bearish and moving lower after a bearish crossover. Both of MACD lines are below the zero line, hinting of a bearish trend.

Strategy
$3.60                 Sell
$3.30                 Price Target
$3.79                 Risk Management Stop
3 weeks Trade Duration

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