HONG LEONG ASIA Stock Code H22.SGX
Outlook
After reaching a high of $1.04, price has been on a corrective decline and reached a low of $0.940. During the correction price has stayed above the cloud keeping the uptrend intact. The pullback found good support inside the cloud and may have formed a bottom at $0.940. Conversion and Base could be about to have a bullish crossover. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD remains bullish and has a bullish crossover. MACD is hinting of a price rally ahead. If price can stay above $0.940, we are expecting price to test $1.08.
Strategy
$0.990 Buy
$1.08 Price Target
$0.945 Risk Management Stop
2 weeks Trade Duration
