CFD Trading – Ascott Reit & SPH

Ascott Reit Stock Code A68U.SGX

Outlook
Price started a rally in early 2019 that continued till end of Oct. Price reached a high of $1.42. Yesterday, price breached the 10-month trend channel and closed just below the trend channel. Price closed below the cloud as well. We think the uptrend may be over and a correction is about to start. Conversion line had crossed below the Base line forming a bearish crossover and Lagging Span is now below price of 26 periods ago, although Lagging Span is still above the cloud. MACD has turned bearish with both its lines below the zero line. A correction should bring price to the Fibonacci 50% correction point of the 10-month rally which comes in at $1.23. There is also a price low support at $1.24. We think price will likely to decline to this level.

Strategy
$1.31                 Short Sell
$1.24                 Price Target
$1.36                 Risk Management Stop
3 weeks              Trade Duration

SPH Stock Code T39.SGX

Outlook
Price started an uptrend from 2 Sep at $1.91 and climbed to a high of $2.34 on 12 Nov. Price is currently declining but MACD is still bullish with both its lines above the zero line. We think this decline could be a correction. Price is also above the cloud and is currently sitting on the Base line. This Base line support may not hold but we think support at $2.14 should be able to halt this price decline and end the correction. The Fibonacci 50% correction point of the 2-month rally comes in at $2.135.  If price is able to hold above $$2.13, price may test the high of $2.34 again.

Strategy
$2.14                 Buy
$2.34                 Price Target
$2.06                 Risk Management Stop
3 weeks              Trade Duration