CFD Trading – Buy XINYI SOLAR(0968.HKE) @ $9.17. Stop at $9.05 and Target at $10.10

XINYI SOLAR Stock Code 0968.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.

HK$9.17               Buy      
HK$10.10                Price Target
HK$9.05                 Risk Management Stop
1 weeks Trade Duration

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