CFD Trading – Sell SIA Eng (S59.SGX) @ $2.16. Stop @ $2.26 and Target @ $2.02.

SIA Engineering Stock Code S59.SGX

Price broke below the cloud on 16 June 2021 but move inside the cloud until the previous day, where price finally dropped and closed below the cloud. This could be the start of a downtrend as Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago and is below the cloud, confirming the bearish trend. MACD remains bearish with both its lines below the zero line. MACD is hinting of a bearish price trend as well. We are expecting price to decline to the Ichimoku N-price projection target of $2.06 or the support level at $2.02 in the next 2-3 weeks.

$2.16                 Sell
$2.02                 Price Target
$2.26                 Risk Management Stop
3 weeks Trade Duration

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