CFD Trading – Sell China Overseas Grand Oceans (8821.HKE) @ $4.58. Stop at $4.75 and Target at $4.25

China Overseas Grand Oceans Stock Code 0081.HKE

Price has violated the rising trendline that formed since 19 March, turning the stock outlook from bullish to bearish. Price broke below the cloud during the last trading session, confirming the bearish trend. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend as well. Lagging Span is below the price of 26 days ago but is inside the cloud. MACD is bearish and the histogram is strengthening, which is a sign of more bearishness ahead. We see a further price decline if it breaks below its previous low support.

$4.58                 Sell
$4.25                 Price Target
$4.75                 Risk Management Stop
2 weeks            Trade Duration

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