CFD Trading – Buy Japfa (UD2.SGX) at $0.745. Stop at $0.715 and Target at $0.830.

Japfa Stock Code UD2.SGX

Price broke above the cloud on the 14 October 2020 and has stayed above the cloud since that breakout. After reaching a high of $0.835, price has been declining but had stayed above the cloud, keeping the uptrend intact. The pullback should find good support at the Base line which lies at $0.730. There is also a support zone form $0.72 to $0.745, which should be able to halt the price decline. Conversion and Base had a bullish crossover earlier, hinting of the bullish trend. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD remains bullish and is hinting of a price rally ahead. If price can stay above $0.720, we are expecting price to test $0.835 again.

$0.745                Buy
$0.830                Price Target
$0.715                Risk Management Stop
3 weeks Trade Duration

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