CFD Trading – Sell Kingsoft Corp (3888.HKE) @ $34.40. Stop at $37.20 and Target at $30.50

KINGSOFT Corp Stock Code 3888.HKE

Price reached a high at $47.60 on 13 Jul and has been moving lower since then. The recent three-day rally was capped by the falling Conversion line. Price broke below its previous low support of $36.15 during the last trading session with a bearish candlestick, and could have formed a potential lower highs and lower lows pattern. The RSI is moving below its neutral level at the moment. This stock could move lower towards its resistance-turned-support zone at around $30.50 which is also the cloud support area.

$34.40                Sell
$30.50                Price Target
$37.20                Risk Management Stop
2 weeks              Trade Duration

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