CFD Trading Note – Buy SingTel (Z74.SGX) @ $2.38. Stop @ $2.28 and Target @ $2.51

SingTel Stock Code Z74.SGX

Outlook

Price broke above the cloud a few days ago and has managed to stay above the cloud following the breakout, keeping the uptrend intact. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago but is below the cloud. MACD is bullish with both its lines moving further away from the zero line, which is a hint of a strong bullish price trend. If price can stay above the cloud, we are expecting price to advance to the previous resistance level at $2.51.

Strategy

$2.38                 Buy

$2.51                 Price Target

$2.28                 Risk Management Stop

3 weeks Trade Duration

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