Trade of The Day: Lion-Phillip S-REIT ETF (SGX: CLR) January 26, 2023 788
Lion-Phillip S-REIT ETF (SGX: CLR)
(Current Price: S$0.945) – TECHNICAL BUY
Buy price: S$0.945 Stop loss: S$0.930 Take profit: S$1.00
The price has broken out of a bullish ascending triangle on 25 January, and we could see continuation of the bullish momentum to retest the S$1.00 previous swing high resistance formed during September 2022, which is confluent with a downtrend resistance line. The Moving Average Convergence Divergence (MACD) technical indicator is also displaying increasing bullish momentum recently, to support the breakout.
Expected timeline of the trade is 2-4 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).