CFD Trading – Sell ASM Pacific(0522.HKE) @ $82.90. Stop at $86.50 and Target at $76.50

ASM PACIFIC Stock Code 0522.HKE

Price broke below the cloud on 20 Aug, turning the stock outlook from bullish to bearish. It also violated the key resistance-turned-support level. There is a bearish Conversion and Base line crossover that hints for potential downside. The MACD is bearish with both of the MACD’s lines are below the zero line. We are likely to see price continue its downward momentum to move lower towards the gap support at HK$76.50. The Ichimoku V-shaped price projection has a target at HK$78 while the N projection has a price target of HK$76.50.

HK$82.90             Sell  
HK$76.50                Price Target
HK$86.50                Risk Management Stop
1 weeks Trade Duration

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