YZJ Shipbldg SGD Stock Code BS6.SGX
After breaking above the cloud, price went to a high of $1.42 before going into a price correction. During the correction, price was supported by the Conversion line and a previous resistance high turned support line. Conversion line and Base line had a bullish crossover, hinting at a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish price trend. MACD remains above the zero line and is hinting at a bullish price trend. We think the bullish price trend is likely to send price higher to Ichimoku V-shaped price projection target at $1.46, in the next 1-2 weeks.
$1.46 Price Target
$1.34 Risk Management Stop
2 weeks Trade Duration