BOUSTEAD Stock Code F9D.SGX
Outlook
After reaching a high of $1.27, price has been on a decline and reached a low of $1.14 on 1 July 2021. During the price correction, price stay above the cloud, keeping the uptrend intact. Yesterday, price has a Marubozu candlestick price pattern, which is a sign of a strong pick up in trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD remains bullish with both its lines above the zero line. MACD is likely to have a bullish crossover soon, hinting of a bullish price trend. We are expecting price to move to the Fibonacci 127% projection target at $1.35 in the next 2-3 weeks.
Strategy
$1.21 Buy
$1.35 Price Target
$1.13 Risk Management Stop
2 weeks Trade Duration
