CFD Trading – Sell Frencken (E28.SGX) @ $0.980. Stop at $1.03 and Target at $0.900

Frencken Stock Code E28.SGX

Price broke below the cloud for about a week now but has stayed near the lower edge of the cloud since that breakout. Since that breakout below the cloud, price has been capped by the Conversion line. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago but is above the cloud at the moment and unable to confirm the bearish trend. MACD is bearish but both of MACD lines are close to the zero. We expect price to move lower to the previous high resistance turned into support at $0.895

$0.980               Sell
$0.900               Price Target
$1.03                 Risk Management Stop
3 weeks Trade Duration

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