Samudera Shipping Stock Code S56.SGX
Outlook
Price reached a high of $1.19 on 4 August and has been declining. The correction was supported by the base line in the previous trading session. Price also managed to stay above the cloud, keeping the bullish price trend intact. A bullish Engulfing candlestick price pattern is hinting at the end of the decline. Conversion line and Base line remained in a bullish crossover and is hinting at a bullish price trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish price trend. MACD remains bullish. If price is able to stay above a strong support line at $0.90, it could be heading towards the previous resistance high at $1.19 in the next 2-3 weeks.
Strategy
$0.960 Buy
$1.19 Price Target
$0.860 Risk Management Stop
3 weeks Trade Duration
