CFD Trading – SingTel & CapitaCom Trust

SingTel Stock Code Z74.SGX

Price peaked in early Dec 2019 and started to decline. Price broke below the cloud two days ago and closed below the cloud yesterday for a second time.  Conversion and Base lines had a bearish crossover as well, confirming the bearish trend. Lagging Span is above the cloud but below price of 26 days ago, confirming the bearish trend. However, price managed to stay above an important low at $3.24. If price were to close below this support, the bearish trend is likely to bring price lower to $3.12 to test the base. MACD is bullish at the moment but the fast line has moved below the zero line.  

$3.26                 Short Sell
$3.12                 Price Target
$3.35                 Risk Management Stop
2 weeks            Trade Duration

CapitaCom Trust Stock Code C61U.SGX

Price formed a Double Bottom base back in Nov and Dec of 2019 and has since broken higher and above the cloud. Since it broke above the cloud 4 days ago, it had closed each of those four days, higher than the previous day. This is a sign of a strong bullish trend. Conversion and Base line had a bullish crossover and Lagging Span is above price of 26 days ago and is about to move above the cloud, reinforcing the bullish trend. MACD is bullish with both its lines above the zero line. MACD is rising strong as well. We think the strong bullish momentum can bring price to test its previous high of $2.20 again.

$2.09                 Buy
$2.20                 Price Target
$2.01                 Risk Management Stop
3 weeks              Trade Duration