Tag: Sheng Siong

Sheng Siong Stock Code OV8.SGX

Outlook
After reaching a high of $1.68 on 14 May 2021, price has been on a decline which has brought price down to $1.56. The correction has managed to stay above the cloud, keeping the uptrend intact. Base line is currently providing support at $1.57. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD remains bullish with both its lines above the zero line. We are expecting price to move higher to the previous high at $1.68 again within the next 2-3 weeks.

Strategy
$1.57                 Buy
$1.68                 Price Target
$1.50                 Risk Management Stop
3 weeks Trade Duration

Sheng Siong Stock Code OV8.SGX

Outlook
After reaching a high of $1.68, price has been on a decline but managed to stay above the cloud, keeping the uptrend intact. The pullback should find good support at the Base line which lies at $1.58, which should be able to halt the price decline. 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 and is hinting of a price rally ahead. We see price going higher to 1.68 in the next 2-3 weeks.

Strategy                  
$1.59                 Buy
$1.68                 Price Target
$1.53                  Risk Management Stop
3 weeks             Trade Duration