Valuetronics Holdings Ltd(Current Price: 0.52) – Technical Buy
Buy spot: 0.52 Stop loss: 0.48 Take profit: 0.60
Valuetronics Holdings (SGX: BN2) strong sell-off has seen some light at the end of the tunnel after price rebounded from the low of 0.425 on 19th March 2020 and it is likely to continue based on the technicals below. However, the rebound is seen as a correction rather than a reversal as the dominant impulse trend is still on the downside:
*Timeline of the trade should be between 1-3 weeks from the date issued.
* The dominant trend is still strong bearish as the death cross between 50 and 200 SMA is the strong reason. Therefore, this trade is a short term trade taking advantage of the counter trend trade.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!Featuring regular TA posts and requests to analyse specific stocks