CityDev Stock Code C09.SGX
Outlook
Price broke and closed below the cloud in the previous trading session, changing the chart trend to bearish. Conversion and Base lines had a bearish crossover, hinting at a bearish trend. Lagging Span is below price of 26 days ago but is inside the cloud. MACD has moved below the zero line and is hinting at a bearish price trend. If price stays below the cloud, we are likely to see a decline to the previous low at $7.55 in the next 2-3 weeks.
Strategy
$7.78 Sell
$7.55 Price Target
$7.95 Risk Management Stop
3 weeks Trade Duration
