ZHAOJIN MINING Stock Code 1818.HKE
Price rebounded after being supported by the cloud support on 4 Aug, but this rebound was capped by the Fibonacci 62% correction point at $10.67. Price declined lower as a result of this Fibonacci resistance point. Price broke below the thin cloud, which provided a weak support, during the previous trading session with a falling window and closing just below the thin cloud. The MACD is still bullish at the moment, but there was a bearish crossover. MACD also had a bearish divergence warning when price reached the high, hinting of a possible price peak.
$8.40 Price Target
$9.70 Risk Management Stop
2 weeks Trade Duration