CFD Trading – Buy China Unicom (0762.HKE) @ $5.40. Stop at $4.90 and Target at $6.50

CHINA UNICOM Stock Code 0762.HKE

The price’s decline managed to stay above the big gap zone that was created on 13 August. This decline appears to have run its course as there was a Bullish Engulfing price pattern formed during the last trading session. This could be a hint for potential upside ahead. Price broke above the declining trendline that formed since 18 Aug as well, reinforcing the bullish trend. The 20EMA cuts the 50EMA to the upside on the previous trading session, which is again another sign of a bullish trend. A bullish MACD crossover is likely in the coming session, which also suggest for the upside.

$5.40                 Buy
$6.50                 Price Target
$4.90                 Risk Management Stop
2 weeks             Trade Duration

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