CITIC SEC Stock Code 6030.HKE
Outlook
This stock reached a high of HK$21.45 and has been declining since that high. It is now sitting at the long term 200-day moving average, which also coincides with the Fibonacci 62% correction point of May-Jul 20’s price swing. It is also supported by a gap zone. The MACD is bearish at the moment, but a bullish crossover could be seen in the coming session, hinting of a potential upside ahead. These could increase chances of the stock price rebounding from multiple support zone of HK$16. A rebound could bring price higher to HK$19.69.
Strategy
$17.40 Buy
$19.70 Price Target
$16.15 Risk Management Stop
2 weeks Trade Duration
