After reaching a high of $7.38 on 18 February 2022, a price correction was supported by the Base line on two separate days. Price also managed to stay above the cloud during the correction. Conversion and Base lines remain in a bullish crossover, hinting at a bullish trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD is bullish with both its lines above the zero line. We are likely to see a rally to the previous high at $7.47 in the next 2-3 weeks.
Price broke above the cloud 5 days ago and in the previous trading session, price broke above an Ichimoku reversal. The Ichimoku reversal has a V-shaped price target at $7.74 which is close resistance point at $7.76. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish price trend. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD has bullish crossover and is hinting of a bullish price trend. We are expecting price to move higher to $7.76 in the next 2-3 weeks.
Outlook Price broke below the cloud on 18 Aug 2020 after an attempt to break above the cloud failed at $8.45. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago but is still above the cloud at the moment. MACD is bearish but is near to the zero line. There was a bearish crossover from MACD hinting of a bearish trend ahead as well. Price is likely to continue lower to test its previous support at $7.25 in the next couple of weeks.
Outlook Price broke above the cloud on 3 June 2020 with a strong and big candle. Price rose to a high of $23.58 5 days later. Since that high, a price correction brought price down to $21.03, which was also the Base line support. Price is currently below the Conversion line but above the Base line. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and above the cloud as well, confirming the strong bullish trend. Price is also likely to be supported by a rising trend line, whose point is also the gap support at $20.49. MACD is bullish but its fast line is moving lower. However the fast line could be turning around the zero line. Both of MACD lines are above the zero line as well. We expected price to move lower but to stay above the upper edge of the cloud and later a recovery to the recent price high at $20.60.
Outlook Price broke above the cloud on 5 June 2020 and rose to a high of $9.30 on 8 June 2020. The high on 8 June was in the form of a Hanging Man candlestick price pattern, hinting of a correction. Since that high, a price correction send price lower to $8.26. However the decline managed to stay above the cloud, keeping the bullish trend intact. Price is capped by the Conversion line but is above the Base line. Conversion and Base lines had a bullish crossover earlier, confirming the bullish trend. Lagging Span is above price of 26 days ago but is inside the cloud, hinting of a not so strong bullish trend. Lagging Span is near to the upper edge of the cloud and a move above the cloud would turn the trend bullish. MACD is bullish and consolidating above the zero line and its fast line could be about to turn up from the zero line, hinting of a price rally ahead.
Outlook Share price is in an uptrend. The recent pullback was halted near the base line (blue line). The lagging line (green line) is still above the cloud and prices in the previous 26 periods, confirming the bullish trend. The MACD is also bullish and a bullish crossover is likely in the near term. Prices could move higher if it can penetrate above its recent high. We see increasing odds of stock price testing S$12.05. Stops could be placed at S$10.45.
Approximate timeframe on average: 1-2 weeks (initiate this trade idea if the stock hits the entry price range within three trading days)
Our institutional research has a fundamental BUY and target price of S$12.00.
Outlook A bullish gap was created during the last trading session with high trading volume. Share price is now testing its overhead cloud resistance. There was also a bullish Tenkan- Kijun crossover. The MACD just had a positive crossover as well. We could see prices moving higher if the stock can penetrate above the cloud. We see increasing odds of stock price testing S$1.35 should it break above the cloud. Stops could be placed at S$1.01.
Approximate timeframe on average: 1-2 weeks (initiate this trade idea if the stock hits the entry price range within three trading days)
Our institutional research has a fundamental BUY and target price of S$1.46
