Capitaland Stock Code C31.SGX
Outlook
Price reached a high of $3.75 on 8th July and has declined lower to $3.64. The decline looks corrective in nature as MACD is still bullish and both lines are above zero. Price is also above the cloud and Base line is showing a bullish trend as price is above it. The decline may not be over yet and we think there could be further decline to support point at $3.57 or the Fibonacci 38% correction point of the rally from $3.17 to the high at $3.75, which comes in at $3.53. This zone is where the Base line is currently at and this adds another level of support. If price is supported at the Fibonacci 38% correction point of $3.53, there is a good chance of a price move to $3.75 or higher.
Strategy
$3.55 Buy
$3.75 Price Target
$3.43 Risk Management Stop
3 weeks Trade Duration
Tencent Holding Limited Stock Code 700.HKE
Outlook
Price broke above the cloud 2 days ago and yesterday, it managed to stay and close above the cloud. Price also managed to close above a down trending line and is currently sitting on this line. Price is currently above both the Conversion line and Base line and above the cloud, which is a sign of a bullish trend in place. If price can stay above the support at $359.20, it can go higher to $381. MACD is bullish and above the zero line. Both lines of MACD are also rising and its histogram is green and rising as well.
Strategy
HK362.50 Buy
HK381.00 Price Target
HK349.30 Risk Management Stop
3 weeks Trade Duration
