CFD Trading Note – Buy YZJ Shipbldg (BS6.SGX) @ $1.43. Stop @ $1.38 and Target @ $1.53

 YZJ Shipbldg Stock Code BS6.SGX

Outlook

Price broke above the cloud and reached a high of $1.54 on 10 August 2021. A price correction followed after price reached the high but has managed to stay above the cloud, keeping the uptrend intact. Conversion and Base had a bullish crossover earlier, hinting of the bullish trend. Lagging Span is above price of 26 days ago but is inside the cloud. MACD remains bullish and is hinting of a price rally ahead. If price can stay above the cloud, we are expecting price to test the previous high of 1.54 again in the next 2-3 weeks ahead.

Strategy                  

$1.43                 Buy

$1.53                 Price Target

$1.38                 Risk Management Stop

3 weeks            Trade Duration

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