SIA Stock Code C6L.SGX
Outlook
Price retraced after reaching its previous high for a second time, forming a potential double top reversal chart pattern. A bearish engulfing reversal candlestick pattern was formed yesterday. There is a potential divergence warning given from the RSI indicator that hints at possible price top. We are likely to see price having its price correction to S$6.02.
Strategy
$6.35 Sell
$6.02 Price Target
$6.55 Risk Management Stop
3 weeks Trade Duration
SIA Stock Code C6L.SGX
Outlook
Price reached a high of $5.50 on 7 November and went into a price correction. The price correction was supported by the Conversion line as well as the cloud, keeping the uptrend intact. 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 with both lines above the zero line. If price can stay above the cloud, it could be heading towards the previous high at $5.50 in the next 2-3 weeks.
Strategy
$5.30 Buy
$5.50 Price Target
$5.15 Risk Management Stop
3 weeks Trade Duration
SIA Stock Code C6L.SGX
Outlook
After moving to a high of $5.62 on 11 October, price went into a decline. The decline had stayed above the cloud, keep the uptrend intact. The price decline is likely to find support provided by the gap zone as well as a previous high turned support line. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. The MACD is bullish with both its lines above the zero line and is hinting at a price rally ahead. If price can hold above the gap, we are likely to see price moving to the previous high at $5.60 in the next 2-3 weeks.
Strategy
$5.20 Buy
$5.60 Price Target
$5.09 Risk Management Stop
3 weeks Trade Duration
SIA Stock Code C6L.SGX
Outlook
Price broke below the cloud three days ago and had stayed below the cloud since the breakout. Price has also broken out of an Ascending Triangle chart pattern earlier. Conversion and Base lines had a bearish crossover, hinting of a bearish trend. Lagging Span is below price of 26 days ago and is below the cloud, confirming the bearish trend. MACD remains bearish with both its lines far below the zero line, which is a hint of a strong bearish price trend. We are expecting price to decline to the support level at $4.42.
Strategy
$4.86 Sell
$4.42 Price Target
$5.05 Risk Management Stop
2 weeks Trade Duration
Outlook
Price tried but was unable to move above the cloud on 11 June and has been declining. Price has also broken below an uptrend line which is a sign of a reversal of the bullish trend into a bearish trend. Lagging Span is below price of 26 days ago as well as below the cloud, confirming the bearish trend. MACD has turned bearish and there could be bearish crossover soon, which will reinforce the bearish trend. We are expecting price to move lower to the previous lows of either $4.60 to $4.42.
Strategy
$4.94 Sell
$4.60 Price Target
$5.20 Risk Management Stop
2 weeks Trade Duration
