Innotek Sock Code M14.SGX
Outlook
Price reached a high of $1.04 on 22 April and has been on a decline since that high. However, price has so far stayed above the cloud keeping the uptrend intact. The pullback has reached the Base line support and there lies another support at $0.80. Conversion and Base had a bullish crossover earlier and is still hinting of a bullish trend. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD remains bullish but is declining at the moment, hinting of a price correction. We are expecting price to find support at the $0.80 price level.
Strategy
$0.805 Buy
$0.990 Price Target
$0.715 Risk Management Stop
3 weeks Trade Duration
