CFD Trading – Buy Innotek (M14.SGX) @ $0.805. Stop @ $0.715 and Target @ $0.990.

Innotek Sock Code M14.SGX

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.

$0.805                Buy
$0.990                Price Target
$0.715                Risk Management Stop
3 weeks              Trade Duration

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