CFD Trading – Buy Huatai Securities(6886.HKE) @ $14.60. Stop at $13.80 and Target at $16.00

HTSC Stock Code 6886.HKE

Price reached a high of HK$16.52 on 7 July and has been declining since then. It retraced to the cloud support at $13.70, and is consolidating at this support. A bullish Engulfing candlestick pattern was seen during the last trading session, which could be a hint of a possible end of the consolidation and the start of a new bullish trend. The MACD is still bullish, and a bullish crossover is likely in the coming session. These signs are likely to increase chances of the stock price rebounding from the cloud support and to test its high again.

$14.60                Buy      
$16.00                Price Target
$13.80                Risk Management Stop
2 weeks Trade Duration

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