CFD Trading – Sell Anta Sports (2020.HKE) @ $71.00. Stop @ $79.55 & Target @ $60.50

Outlook
This stock moved higher to $79.50 on 9 July and has been moving lower since then. It could be forming a potential Double Top reversal chart pattern and an Evening Doji Star reversal pattern was seen on 10 July. There is divergence warning given from the MACD as well. The conversion line has moved below the base line, and the lagging span is also below the price of the 26 days ago. Price is currently sitting at the upper edge of the cloud support. A bearish MACD crossover is likely in the coming session. We are likely to see price moving lower towards the resistance-turned-support zone at $60.50.

Strategy
$71.00                 Sell
$60.50                Price Target
$79.55                 Risk Management Stop
2 weeks Trade Duration

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