Valuetronics Sock Code BN2.SGX
Outlook
Price broke below the cloud on 26 February 2021 and on two occasions, has been unable to move back above the cloud, with the cloud providing stiff resistances. Price has broken below an uptrend line starting from 28 September 2020, adding to the bearish tone. Conversion and Base lines had a bearish crossover earlier, hinting of a bearish trend. Lagging Span is below price of 26 days ago and is inside the cloud. MACD remains bearish. We are expecting price to resume its downtrend to the support level at $0.55.
Strategy
$0.615 Sell
$0.550 Price Target
$0.655 Risk Management Stop
3 weeks Trade Duration
