CFD Trading – Sell YZJ SHIPBLDG (BS6.SGX) at $0.950. Stop at $0.995. and Target at $0.890.


Price broke below the cloud yesterday and this could be the start of a bearish trend. Price also broke below an uptrend, line which reinforced the bearish trend. Price also broke below a recent low, adding to the bearish trend. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago but is at the lower edge of the cloud at the moment. A movement below the cloud would confirm the bearish trend. MACD has turned bearish with both its lines moving lower. An Ichimoku E-shaped price projection gives us a down side price target of $0.890, which is also the same as the previous low on 3 August 2020. A more conservative Ichimoku V-shaped gives a price target of $0.910. We think price is likely to move lower to either $0.91 to $0.89.

$0.950                Short Sell
$0.890                Price Target
$0.995                Risk Management Stop
3 weeks Trade Duration

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