CFD Trading – Buy Frencken (E28.SGX) @ $1.03. Stop at $0.950 and Target at $1.16

Frencken Stock Code E28.SGX

Price broke above a recent high at $1.00 yesterday but was unable to move above the cloud, closing just below the cloud resistance. Moving ahead, the cloud resistance is thin and offers price a chance to make a breakthrough. Conversion line has turned up but has not had a bullish crossover with Base line as yet. MACD has a bullish crossover but is still below the zero line. Both of MACD’s line is close to the zero line and we are anticipating a movement above the zero line soon. We see price going to $1.16 initially and $1.23 is also possible.

$1.03                 Buy
$1.16                 Price Target
$0.950                Risk Management Stop
3 weeks              Trade Duration

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