CFD Trading – Sell Top Glove (BVA.SGX) at $2.20. Stop at $2.38 and Target at $1.94.

Top Glove Stock Code BVA.SGX

Outlook
Price broke below the cloud on 16 November 2020 and reached a low of $2.11. A price rally from this low failed to move above the cloud or the Base line, keeping the bearish trend intact. Two days ago, price gapped lower, hinting of a resumption of the bearish trend. Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago and is below the cloud, confirming the bearish trend. MACD remains bearish with both its lines far below the zero line, which is a hint of a strong bearish price trend. We are expecting price to decline to the support level at $1.935.

Strategy
$2.20                 Sell
$1.94                 Price Target
$2.38                 Risk Management Stop
3 weeks Trade Duration

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