Tag: Riverstone

RIVERSTONE Stock Code AP4.SGX

Outlook
Price broke above the cloud on 25 January 2021 but was unable to sustain above the cloud and declined to a low of $1.33. This is also the Fibonacci 50% correction point of the rally from $1.07 to $1.59. The pullback may have ended at the low and price could be heading higher to $1.55 again. Conversion and Base lines could see a bullish crossover soon. Lagging Span is above price of 26 days ago but is below the cloud. MACD remains bullish and the fast line is turning up from near the zero line, hinting of a price rally ahead.

Strategy                  
$1.40                 Buy
$1.54                 Price Target
$1.31                 Risk Management Stop
3 weeks            Trade Duration

Riverstone Stock Code AP4.SGX

Outlook
After reaching a low of $1.06 on 18 December 2020, price went on a rally.  In the previous trading session, price broke above a V-shaped structure at $1.42. This triggered a V-shaped Ichimoku breakout with a price target of $1.78. Conversion and Base lines had a bullish crossover, hinting of a bullish trend. Lagging Span is above price of 26 days ago but is below the cloud. MACD is turning bullish with the faster line, now above the zero line. MACD slower line is close to the zero line and could crossover soon. We are expecting the breakout to continue and price to reach a high of $1.73 which is the gap resistance zone in the next 3 weeks.

Strategy
$1.43                 Buy
$1.73                 Price Target
$1.23                 Risk Management Stop
3 weeks Trade Duration