CFD Trading – Buy SATS (S58.SGX) @ $4.07. Stop @ $3.96 and Target @ $4.45

Price reached a high of $4.46 on 25 November and has been on a decline since that high. However, price has managed to stay above the cloud keeping the uptrend intact. The price decline could be a correction which may have reached a strong support at $4.07. This support has supported price on four previous occasions. Conversion line and Base line had a bullish crossover earlier, hinting of a bullish trend. Lagging Span is above price of 26 days ago and also high above the cloud, hinting of a strong bullish price trend ahead. MACD is bullish and the fast line is starting to turn up from the zero line, which is a hint the correction could be coming to an end

$4.07                 Buy
$4.45                Price Target
$3.96                Risk Management Stop
3 week              Trade Duration

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