Tag: Samudera Shipping

Samudera Shipping Stock Code S56.SGX

Outlook

Price broke above the cloud in the previous trading session, changing the chart outlook to bullish. Conversion line and Base line had a bullish crossover and is hinting at a bullish price trend ahead. Lagging Span is above price of 26 days ago but is inside the cloud at the moment.  MACD is bullish and is hinting at a bullish price trend. As long as price stays above the cloud, we think price could be heading to the previous high at $1.20 in the next 2-3 weeks.

Strategy                  

$1.01                 Buy

$1.20                 Price Target

$0.950             Risk Management Stop

3 weeks            Trade Duration

Samudera Shipping Stock Code S56.SGX

Outlook
Price reached a high of $1.19 on 4 August and has been declining. The correction was supported by the base line in the previous trading session. Price also managed to stay above the cloud, keeping the bullish price trend intact. A bullish Engulfing candlestick price pattern is hinting at the end of the decline. Conversion line and Base line remained in a bullish crossover and is hinting at a bullish price trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish price trend. MACD remains bullish. If price is able to stay above a strong support line at $0.90, it could be heading towards the previous resistance high at $1.19 in the next 2-3 weeks.

Strategy                  

$0.960               Buy

$1.19                 Price Target

$0.860               Risk Management Stop

3 weeks             Trade Duration