Jardine C&C Stock Code C07.SGX
Outlook
Price broke above the cloud with a strong large candlestick yesterday, changing the chart outlook from bearish to bullish. The breakout also created an Ichimoku V-shaped breakout with a price target of $22.00, which is close to the previous high of $22.05. Conversion and Base lines had a bullish crossover, hinting of a bullish trend. Lagging Span is above price of 26 days ago but is inside the cloud. MACD is bearish with both its lines below the zero line. However, MACD had a bullish crossover as well as a bullish divergence warning. We are expecting a price rally to the Ichimoku price projection target at $22.00 in the next 2-3 weeks.
Strategy
$20.75 Buy
$22.00 Price Target
$19.98 Risk Management Stop
3 weeks Trade Duration
