PropNex (OYY:SGX): Earnings OptimismAnalysis Forecast:
Expect to Retest Resistance at S$2.20
Analysis is For:
Swing Trading - Generate Portfolio Alpha
Supporting Technical Observations:
1. Sign of Strength (large volume on buy up day)
2. Fund Flow Index (FFI) Turned Positive
3. Stochastics Bullish reversal
Stop Loss
If PropNex breaks below S$1.90, expect trend continue to consolidate or turn bearish
OYY trade ideas
OYY.SGX_Downtrend Line Breakout Trade_LongENTRY: 1.92
SL: 1.59
TP: 2.21
- ADX>20
- RSI>50,RSI<70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD -ve
- Reached high on 15 Jul 2021 and retracing since then.
- 6 Oct 2021 breakout of downtrend line with high volume.
- Today break above HVN and another downtrend line with high volume.
- Showing buyers in control since Oct 2021 with high volume green days and retracement under lower volume.
Propnex (SGX) (*Be careful with your short)PropNex
So, let's talk the immediate timeframe.
I am expecting they are going to close the gap.. $0.68 - $0.69 region is possible.
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Sonic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
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