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.
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
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