Trade of the Day – Digital Core REIT (SGX: DCRU) February 13, 2023 256
Trade of the Day
Digital Core REIT (SGX: DCRU)
(Current Price: US$0.625) – TECHNICAL BUY
Buy price: US$0.625 Stop loss: US$0.590 Take profit 1: US$0.665
Take profit 2: US$0.720
The price has retested the downtrend resistance line, and a previous horizontal resistance level now turned support at US$0.610, forming a bullish hammer candle on 10 February during the pullback following the breakout. We can see continuation of the short-term uptrend and bullish momentum to retest the recent swing high level at US$0.665 and subsequently the US$0.720 resistance level, which was a previous support level in September 2022 now turned resistance.
Expected timeline of the trade is 2-6 weeks from the date of report issuance.
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Zane Aw
Technical Analyst
PSR
I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).