Frencken Group Ltd (SGX: E28) The downtrend threat is likely to be over after recent technicals indicates a potentiall bullish reversal to the upside:
*Expected timeline of the trade is 25 weeks from the date of report issuance.
*Despite the positive bullish signal, the stock is still on a downtrend as displayed by the Ichimoku. Hence, should the rebound momentum remain weak, then 1.91 could be a selling point. Should this happen, then 1.47 will likely be a stronger key support zone.
CHART LEGEND
Ichimoku Kinko Hyo
Red dotted line = 26 periods Kijun-Sen
Blue dotted line = 9 Periods Tenkan-Sen
Green Line B= 52 periods Senkou Span B
Pink Line A = 26 periods Senkou Span A
Black line = 26 periods Chikou Span. Lagging line
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