CFD Trading – Buy Yangzijiang (BS6.SGX) @ $1.01. Stop @ $0.965 and Target @ $1.11.

Yangzijiang Shipbuildings Stock Code BS6.SGX

Price broke above the cloud on 6 January 2021 and had climbed to a high of $1.11. After reaching a high of $1.11, 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 $1.01. This is also the Fibonacci 50% correction point of the rally from 0.915 to 1.11.  Conversion and Base lines remain bullish. 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 $0.970, we are expecting price to test $1.01 again in the next 2-3 weeks.

$1.01                 Buy
$1.11                 Price Target
$0.965            Risk Management Stop
3 weeks              Trade Duration

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