CFD Trading – Buy Sheng Siong (OV8.SGX) @ $1.59. Stop @ $1.53 and Target @ $1.68.

Sheng Siong Stock Code OV8.SGX

After reaching a high of $1.68, price has been on a decline but managed to stay above the cloud, keeping the uptrend intact. The pullback should find good support at the Base line which lies at $1.58, which should be able to halt the price decline. 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 and is hinting of a price rally ahead. We see price going higher to 1.68 in the next 2-3 weeks.

$1.59                 Buy
$1.68                 Price Target
$1.53                  Risk Management Stop
3 weeks             Trade Duration

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