Tag: Hong Fok

HONG FOK Stock Code H30.SGX

Outlook

During a recent price correction, the lower edge of the cloud managed to keep price above the cloud and the uptrend intact. Two trading sessions ago, price broke above the cloud, hinting at a resumption of the uptrend. Lagging Span is above price of 26 days ago and is above the cloud, hinting at a bullish price trend. MACD is bullish and is turning up from the zero line, hinting at a bullish price trend. If price is able to stay above the cloud, it could be heading towards the previous high at $1.06 in the next 1-2 weeks.

Strategy                  

$0.985                Buy

$1.06                 Price Target

$0.935                Risk Management Stop

3 weeks              Trade Duration

Hong Fok Stock Code H30.SGX

Outlook

The recent price correction was supported by the cloud, which prevented price from turning bearish. Price moved above the correction high in the previous trading session, hinting that the correction could be over. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish price trend. MACD remains above the zero line and has a bullish crossover. MACD is hinting at a bullish price trend. As long as price stays above $0.90, the bullish price trend is likely to send price higher to $1.06, which is also the previous price high, in the next 2-3 weeks.

Strategy                  

$0.95                Buy

$1.06                 Price Target

$0.89               Risk Management Stop

3 weeks           Trade Duration