Tag: Frencken

Frencken Stock Code E28.SGX

Outlook

Price reached a high of $1.63 on three separate occasions but was unable to move above this resistance high. The pullback has moved below a support line which also triggered a Ichimoku V-shaped price breakout with a price target of $1.40. Conversion and Base lines are about to crossover. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains bullish but is moving lower, hinting of a possible price correction in the process. We are expecting this price correction to bring price to $1.40.

Strategy                  
$1.50                 Sell
$1.41                 Price Target
$1.55                 Risk Management Stop
2 weeks              Trade Duration
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Frencken Stock Code E28.SGX

Outlook
Price broke above the cloud on the 15 March 2021 and has stayed above the cloud since that breakout. A few days ago, price broke above a recent high and formed a V-shaped breakout. The V-shaped breakout has a price projection target of $1.760. Conversion and Base had a bullish crossover earlier, hinting of the bullish trend. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD remains bullish with both of its lines moving upward in a steep gradient and is hinting of a price rally ahead. If price can stay above $1.46, we are expecting price to test $1.76.

Strategy                  
$1.52                 Buy
$1.76                 Price Target
$1.37                 Risk Management Stop
3 weeks            Trade Duration

Frencken Stock Code E28.SGX

Outlook
Price broke above a recent high at $1.00 yesterday but was unable to move above the cloud, closing just below the cloud resistance. Moving ahead, the cloud resistance is thin and offers price a chance to make a breakthrough. Conversion line has turned up but has not had a bullish crossover with Base line as yet. MACD has a bullish crossover but is still below the zero line. Both of MACD’s line is close to the zero line and we are anticipating a movement above the zero line soon. We see price going to $1.16 initially and $1.23 is also possible.

Strategy                  
$1.03                 Buy
$1.16                 Price Target
$0.950                Risk Management Stop
3 weeks              Trade Duration