MGM CHINA Stock Code 2282.HKE
Outlook
Price has been declining and is now testing the gap support that was created on 11 August at HK$9.86. This gap support is also at the lower edge of the cloud support. There was a bearish Conversion and Base lines crossover that suggest a bearish trend ahead. Lagging Span is below price of 26 days ago but is still above the cloud. A violation of the cloud support would turn the stock outlook to negative and could be a hint for further price decline. There is a divergence warning given from MACD that warned of a possible price high. There is also a bearish MACD crossover.
Strategy
$9.85 Sell
$8.92 Price Target
$10.30 Risk Management Stop
2 weeks Trade Duration
