City Dev Stock Code C09.SGX
Outlook
After reaching a high at $8.67, a price correction followed. The price correction was supported by the by a thick cloud, which prevented price from turning bearish. Conversion line and Base line had a bullish crossover, hinting at a bullish price trend. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains above the zero line and is hinting at a bullish price trend. If price stays above the cloud, the bullish price trend is likely to send price higher to $8.70, which is also the previous price high, in the next 2-3 weeks.
Strategy
$8.30 Buy
$8.70 Price Target
$8.05 Risk Management Stop
3 weeks Trade Duration
