Tag: OUE

OUE Stock Code LJ3.SGX

Outlook

Price broke above the cloud three days ago with a strong candlestick and this could be a sign of a reversal in trend from bearish to bullish. Price has moved higher above the cloud since the breakout, confirming the bullish trend. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago but is inside the cloud. MACD is bullish with both its lines above the zero line. Both of MACD’s lines are moving higher and away from the zero line which is a hint of a bullish price trend. We are expecting price to move up to the previous high at $1.61 in the next 2-3 weeks.

Strategy

$1.38                 Buy

$1.59                 Price Target

$1.29                 Risk Management Stop

3 weeks Trade Duration

OUE Stock Code LJ3.SGX

Outlook
Price reached a high of $1.61 on 14 April 2021 and has been on a decline since that high. The correction has brought price down to the edge of the cloud at $1.27. The correction managed to stay above the cloud, keeping the uptrend intact. Price has moved above the Conversion line and is heading higher after being supported by the cloud. Conversion and Base lines has not had a bullish crossover as yet. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains bullish and could be turning up again from the zero line, which is a hint of a bullish price trend. We are expecting price to advance towards the previous high of $1.61.

Strategy
$1.35                 Buy
$1.61                 Price Target
$1.21                 Risk Management Stop
3 weeks Trade Duration