CFD Trading – Buy Frencken (E28.SGX) @ $1.52. Stop at $1.37 and Target at $1.76

Frencken Stock Code E28.SGX

Price broke above the cloud on the 15 March 2021 and has stayed above the cloud since that breakout. A few days ago, price broke above a recent high and formed a V-shaped breakout. The V-shaped breakout has a price projection target of $1.760. 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 with both of its lines moving upward in a steep gradient and is hinting of a price rally ahead. If price can stay above $1.46, we are expecting price to test $1.76.

$1.52                 Buy
$1.76                 Price Target
$1.37                 Risk Management Stop
3 weeks            Trade Duration

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