CHINA UNICOM Stock Code 0762.HKE
Outlook
This stock has retraced to the key Fibonacci 62% correction point of Jul-Aug 20’s rally. It rebounded from this key support and has penetrated above both the Conversion and Base lines. A bullish Conversion and Base lines crossover is likely in the coming session, hinting at a bullish trend. Lagging Span is above price of 26 periods ago and also above the cloud. Lagging Span confirms the bullish trend. The MACD is still bullish and a bullish crossover is likely, also indicating a bullish trend ahead. These could increase chances of the stock price resuming its upward momentum and to test its previous high again.
Strategy
$5.75 Buy
$6.65 Price Target
$5.20 Risk Management Stop
2 weeks Trade Duration
